Ring Shine Textiles will suspend operations at its Fabric and Hang Dyeing Division for 15 days from 17 October, citing persistent maintenance problems, product-quality concerns and the need to improve production capacity.
The board approved the temporary layoff at a meeting on 14 October, the company said in a Dhaka Stock Exchange disclosure on Thursday.
Ring Shine said the suspension was taken under the Bangladesh EPZ Labour Law 2019 and Bangladesh EPZ Labour Rules 2022.
Management is monitoring the situation and will notify regulators if the shutdown needs to be extended or if there are any material changes to the plant’s operating status.
The company did not disclose the expected production or financial impact of the 15-day closure.
Ring Shine shares, with a face value of Tk10 each, rose 2.94 per cent to close at Tk3.50 on the DSE on Thursday.
