Malek Spinning’s subsidiary suffers losses from factory fire  

Salek Textile Limited – a subsidiary of publicly listed Malek Spinning Mills – fell into an accidental fire hazard, which damaged the factory badly.

Malek Spinning Mills holds 97.925% shares of Salek Textile, which is also a member of the New Asia Group.

Malek Spinning said at midnight on 4 April an accidental fire happened at the fabric unit of Salek Textile.

Its factory machinery, a factory shed, AC plants, yarns, and fabrics were damaged by the fire.

The fire was put off by the company's firefighting team and eight units from the Fire Service and Civil Defence after an effort of six to seven hours and no casualty happened.

The factory is under fire insurance coverage.

Salek Textile (rotor unit) started its commercial operation in April 2009.

It produces open-end yarn, which is primarily supplied to local denim fabric and garments manufacturers.

Its denim fabric unit was acquired by the New Asia Group in 2011, and since then it has successfully operated as a deemed exporter of denim fabric to local garments manufacturers in Bangladesh.