The company has informed that it has signed an agreement with Land O' Lakes of Minneapolis, USA in conjunction with the United States Department of Agriculture for the manufacturing and supply of 6,000,000 ( আমেরিকার Land O' Lakes of Minneapolis কোম্পানির সাথে,৬০ লক্ষ cereal bars উৎপাদন এবং সাপ্লাইয়ের agreemen সাইন করেছে ) cereal bars, fortified with essential vitamins and minerals. Under the terms of the USDA Local & Regional Food Aid Procurement Pilot Project, the cereal bars will be distributed to over 75,000 school children per day in Jamalpur district, aimed at providing access to increased nutritional and caloric value.
The company has also informed the following:
(1) The goods shall be produce within their existing production capacity; as such, their production capacity shall not increase as a result of this agreement,
(2) No additional fixed investment(বারতি কোন ফিক্সড ইনভেস্টমেন্ট প্রয়োজন হবেনা) shall be required to service this agreement aside from basic working capital which shall be finance from their existing banking arrangements,
(3) The total revenue of this pilot project is US$ 4,50,000.00 (6.0 million bars x US$ 0.075 per bar), which will be remitted to the company from the donor account in USA. Net Profitability is expected to be around 10% and
(4) The term of the agreement is expected to be 90 days, which may be extended if there is a change in delivery schedule by the purchaser. The contract was finalized and executed by Olympic on December 21, 2010.
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