In an important step for Bangladesh’s industry, the global coatings company Aquaspersions has signed a technology licensing deal with Haycolour, which is located in Dhaka. The deal, finalized last week, will enable local production of advanced water-based paints using Aquaspersions’ patented formulations. This partnership marks an important step in enhancing Bangladesh’s manufacturing capabilities while promoting environmentally friendly industrial solutions. The agreement allows Haycolour to produce low-VOC (volatile organic compound) coatings, which are safer for both workers and the environment compared to traditional solvent-based paints. These specialized coatings have wide applications across several key industries, including textiles, packaging, and construction. By manufacturing these products locally, Bangladeshi companies will gain access to high-quality coatings at more competitive prices while reducing dependence on imported alternatives. This collaboration brings multiple benefits to Bangladesh’s economy. Haycolour will integrate European-standard manufacturing technology into its production processes, raising the overall quality standards of Bangladesh’s chemical industry. The partnership also creates new export opportunities, with plans to supply these innovative coatings to neighboring markets including India, Nepal, and ASEAN countries. This aligns well with Bangladesh’s strategic position in regional trade networks. The textile industry, a cornerstone of Bangladesh’s economy, stands to gain particularly from this development. The new coatings will provide safer and more sustainable options for dye-fixing processes in garment manufacturing. This could help local apparel producers meet increasingly stringent international environmental standards while maintaining cost competitiveness in global markets. Aquaspersions’ decision to partner with a Bangladeshi firm reflects growing international confidence in the country’s manufacturing capabilities. Industry experts note that such technology transfers contribute significantly to building local expertise and creating higher-value manufacturing jobs. Haycolour plans to commence production by early 2025, with the project expected to generate over 150 new positions in technical and operational roles. Environmental considerations played a key role in this partnership. The water-based coatings technology reduces harmful emissions during both production and application, supporting Bangladesh’s efforts to develop more sustainable industrial practices. This move comes at a time when manufacturers worldwide are facing pressure to adopt greener alternatives, making the timing of this technology transfer particularly strategic. The agreement also includes technical training components, ensuring that Haycolour’s workforce can fully utilize the new technology. This knowledge transfer aspect strengthens Bangladesh’s long-term industrial capacity, creating a foundation for future innovations in specialty chemicals manufacturing. As Bangladesh continues to develop its manufacturing base, partnerships like this demonstrate how technology transfers can create win-win scenarios for both international companies and local industries. The Aquaspersions-Haycolour deal not only brings advanced manufacturing capabilities to Bangladesh but also supports the country’s transition toward more sustainable industrial practices.
