Asia Coatings (Private) Limited (ACL), the Bangladesh subsidiary of JAT Holdings PLC, has acquired a strategic site in Singair as part of the Group’s continued commitment to Bangladesh, reinforcing JAT’s confidence in one of its most important international markets.

Bangladesh has grown into a significant contributor to JAT Holdings, accounting on average for approximately 30% of Group revenue. JAT has maintained a presence in the country since 2001, steadily building its position through manufacturing capability, backward vertical integration, market development, and long-standing customer relationships. Supported by a strong portfolio of wood coating brands, ACL holds the No. 1 position in the industrial wood coatings market in Bangladesh.

The acquisition builds on the Group’s established manufacturing presence in Bangladesh, including ACL’s alkyd resin plant, and gives ACL a stronger base from which to plan future warehousing and manufacturing expansion as demand continues to evolve.

Bangladesh’s construction sector is expected to return to a stronger medium-term growth trajectory, with industry projections forecasting average annual growth of around 6.3% between 2026 and 2029, supported by continued investment in energy, transport, and industrial infrastructure. For ACL, this outlook is directly relevant to demand across furnishing, manufacturing, and industrial wood coating applications, where supply continuity, inventory depth, and speed of response are becoming increasingly important.

Located in Singair, in the Manikganj District of the Dhaka Division, approximately 35 km from Dhaka city, the site places ACL closer to several key industrial customers while maintaining direct road connectivity to major retail and distribution hubs. This proximity is expected to support faster delivery cycles, improved coordination, and more efficient movement of inventory across the supply chain.

Commenting on the acquisition, Nishal Ferdinando, Chief Executive Officer of JAT Holdings PLC, said, “Bangladesh is one of the Group’s key operating markets and a meaningful contributor to our regional performance. For a market of that level of importance, the focus has to go beyond near-term sales. We have to build the operating depth, resilience, and capacity needed to support long-term scale. The Singair site gives us the flexibility to plan the next phase of our Bangladesh footprint with greater confidence.”

As ACL continues to grow, bringing manufacturing, warehousing, and distribution planning into closer alignment is expected to support stronger operational efficiency and faster response to customer requirements.

This acquisition is also expected to benefit the employees supporting these operations. By being closer to the communities many employees commute from, the new location can help reduce travel time and contribute to a more practical day-to-day working environment as ACL continues to strengthen its local team.

Shamara Wanniarachchi, Director / Country Head – Bangladesh, JAT Holdings PLC, added, “For the Bangladesh operation, the value of this site is in how it allows us to plan manufacturing, warehousing, and customer servicing together. As demand grows, those areas need to move in closer alignment. Singair places us closer to several key industrial customers and gives us the ability to build capacity around the way the market is served, with better inventory planning, faster response, and stronger operational coordination.”

The Singair site supports JAT Holdings’ broader approach to regional growth: strengthening markets where the Group already has scale, leadership, and long-term demand visibility. In Bangladesh, it creates room for ACL to build future manufacturing and distribution capability around an established business that continues to play an important role in Group performance.