The Ice cream manufacturer Lovello is going to buy 25 thousand units of ice cream freezers with international quality technology and features from Walton Hi-Tech Industries PLC, an electronic products manufacturer. Through this, Walton Ice Cream Freezer will be placed at more than 22 thousand retail outlets of Lovello across the country.
In a press release, Walton authority informed that an agreement has been reached between the two organizations in a hotel in the capital on Thursday. Datin Shamima Nargis Haque, Chairman of Taufika Foods and Lovello Ice Cream PLC., and Zakia Sultana, Director of Walton Hi-Tech Industries PLC., signed the agreement on behalf of their respective companies.
At that time, the managing director of Taufika Foods and Lovello, Dato’ Engineer Md. Ekramul Haque; Chief Operating Officer Engineer Md. Kamruzzaman; Chief Administrative Officer Engineer Kawsar Ahmed; Walton Freeze Chief Business Officer (CBO) Tofail Ahmed; Chief Marketing Officer Didarul Alam Khan; Senior Executive Director Md. Shahzada Salim and Engineer Md. Tanveer Anjum, Head of Walton Corporate Sales Ahmed Tanveer; Deputy Executive Director Rabiul Islam Milton and others were also present among others.
Zakia Sultana, director of Walton Hi-Tech Industries, said in the event that Bangladesh’s ice cream market is growing day by day. Along with this, the commercial refrigerator market is also growing. This huge potential market was dependent on imports. Walton brought about a revolutionary change in the domestic industry in this sector by removing this import dependency. Bangladesh is now self-sufficient in commercial refrigeration. We hope that other companies like Lovello, one of the top ice cream brands in the country, will trust Walton’s commercial refrigerators with the attractive design of international quality tempered glass doors and ice cream freezers with state-of-the-art technology made in Bangladesh.
Managing Director of Taufika Foods and Lavello, Dato’ Engineer Md. Ekramul Haque said, Walton and Lavello are two popular and top brands in Bangladesh. The country’s ice cream companies had been importing about 30,000 freezers every year. Today, with the agreement between Lovello and Walton, the ‘Made in Bangladesh’ journey into the potential ice cream freezer market has begun. We have strong confidence in Walton. So Lovello will take 25,000 ice cream freezers from Walton alone. This demand will increase in the future.
Tofail Ahmed, CBO of Walton Freeze, said that the annual demand of ice cream freezers in the country is about 25 to 30 thousand units. Where Walton’s annual production capacity is more than 40 thousand units. On the other hand, the annual demand for beverage coolers is around 40,000 to 50,000 units. And Walton has a single annual production capacity of more than 1 lakh units. But some local dealers and industries are still importing beverage coolers and refrigerators from abroad and selling them at high prices in the domestic market. As a result, on the one hand, the country’s foreign currency is being spent, on the other hand, the progress of domestic producers and industries is being damaged. Therefore, if strict government action is taken now to stop the import of these products produced in the country, the domestic high technology industry will go a long way.
It was informed at the event that Lovello is one of the top brands in the country’s ice cream market. They have more than 22 thousand retail outlets across the country. They are achieving about 20 percent business growth every year.
More than 250 models of refrigerators with high quality latest technology and features are being manufactured in international standard refrigerator manufacturing plant at Walton headquarters at Chandra, Gazipur. Refrigerators manufactured include a wide range of energy efficient frost and non-frost refrigerators, freezers, ice cream freezers and beverage coolers. R600A Refrigerant is used in Walton refrigerators. As a result Walton fridge is energy efficient as well as environment friendly.