RFL enters Tk 3,000 crore particle board market

RFL Group, one of the leading business conglomerates in Bangladesh, has launched a new brand named "PLYMAX" today to produce and market particle boards in the country.

The conglomerate is manufacturing PLYMAX-branded particle boards at its Danga Industrial Park factory in Narsingdi. The plant currently has an annual production capacity of 1.3 million pieces, which the company plans to increase fivefold within the next two years.

RFL has invested Tk 200 crore in the sector, employing around 500 people, with plans to create an additional 1,000 jobs over the next two years, according to a press release.

RN Paul, managing director of RFL Group, unveiled the new brand at a hotel in Dhaka.

"The demand for engineered wood products in Bangladesh is increasing rapidly," Paul said at the event.

"To sustain our growth in the furniture, door and interior sectors and to provide affordable, quality alternatives to customers, we have introduced particle boards to the market."

"We hope that this product, like other RFL products, will be able to achieve satisfaction of the consumers," he said.

He added that the sector is expanding due to rising purchasing power, urbanisation and other factors.

"However, if the government facilitates the import of raw materials and strengthens quality control, this industry can play a larger role in the economy."

Particle boards are widely used for furniture, interior decoration, kitchen cabinets, doors and flooring because they are affordable, lightweight and easy to transport.

Bangladesh's particle board market is currently worth around Tk 3,000 crore, growing at an annual rate of about 12 percent. Around 70-75 percent of the demand is met by local producers, while the rest is imported mainly from India, China and Malaysia.

Kazi Rashedul Islam, executive director of Banga Building Materials Limited, a concern of RFL, said PLYMAX particle boards contain paraffin wax for water resistance and use zero-emission glue for stronger bonding.

He said the product will be available nationwide through authorised dealers, retailers and the online platform othoba.com. The maximum retail price of each PLYMAX particle board is Tk 1,960.

Mohammad Allama Mursed Muneem, chief marketing officer of RFL Group; Md Mehedi Hasan, chief operating officer of PLYMAX Particle Board; and Shafik Shahin, head of marketing at Banga Building Materials Limited, were also present.