In 1979, Bangladesh Steel and Engineering Corporation passed the agreement for approval to the Ministry of Industry.

[3] In the 1980s, the company had one of the biggest shares of the double edged safety blade market in Bangladesh.

The Centre for Policy Dialogue recommended that the government close down the factory due to the large number of private producers.

They also recommended that the government turn the factory lot into an industrial park with Bangladesh Economic Zones Authority.

[4] Bangladesh government announced plans to off load shares of the company on the Dhaka Stock Exchange in 2010.