Avery Dennison, Youngone to set up manufacturing unit in Bangladesh

PBC News: Avery Dennison has launched a manufacturing facility in Bangladesh in partnership with Youngone Corporation.

The 2,052-sqm unit, located in the Korean Export Processing Zone (KEPZ) in Chattogram, will enable strong service quality and flexibility to local customers, the partners announced on Sunday, reports UNB.

Chairman and CEO of Youngone Corporation Kihak Sung said the investment in KEPZ will give a competitive edge to Avery Dennison in terms of speed and flexibility to serve its clients with reduced business cost and lead time.

“It gives me immense pleasure to welcome Avery Dennison as one of the investors in Korean EPZ (KEPZ), the leading eco-friendly EPZ in this region. Avery Dennison and Youngone will partner on backward linkage industries for apparel and textile,” he said.

In today’s fast-paced business world, a “do-it-alone” approach is not the best strategy for growth, Sung said.
Harnessing the strengths and abilities of others from different areas is one of the most strategic ways for businesses to promote innovation and solve complex challenges by merging talent, expertise and technology, he said.

“I’m confident that Avery Dennison, with its high-quality products and international prestige, will grow together with Youngone and other business partners. We’ll extend all possible support and cooperation to Avery Dennison to move forward in achieving its business goal.”