Apex Footwear Limited has extended the deal with sister concern Apex Tannery’s unit-2 for another twenty years. The lease agreement will be effective from 1 October, 2021, to 30 September, 2041.
Both the listed companies signed the new agreement on 5th October. Apex Footwear will use on lease, Apex Tannery’s factory premises with land, buildings, warehouse, machinery, equipment, fittings, and fixtures of Unit-II, in Shafipur, Gazipur, according to the agreement.
For the first ten years, the monthly rent will be Tk27.50 lakh and for the next 10 years it will be Tk30.25 lakh.
Presently, Apex is the largest shoemaker in South Asia, supplying approximately 15 per cent of leather footwear exports from Bangladesh.
Source: The Business Standard