Gemini Sea Food to sell shrimp to German based frozen food company
Bangladeshi company Gemini Sea Food Limited will be selling processed shrimps to Germam based leading frozen food company Lenk Frozen Foods (Asia) Co. Limited (LENK).
The two companies has signed a joint collaboration agreement on 5 March at the Gemini See Food's head office.
Under this agreement, Gemini Sea Food will process the raw materials (Shrimp) sourced by the LENK to make them exportable to the specified purchases order of LENK with 100% advance payment. Both the parties also agreed to work together to expand the businesses to find a nonconventional the global market, which to be improved the backward linkage periphery of the businesses.
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According to the shrimp processor's statement file on the Dhaka Stock Exchange (DSE), Gemini Sea Food will earn more than Tk50 crore revenue annually under the agreement.
Its shares registered a 0.23% hike on Tuesday and being traded at Tk477 each at the DSE.
