In April 2016, local conglomerate ACI has sold a portion of its portfolio of household brands to a US-based company for Tk 250.54 crore, a move that is likely to boost competition and ensure quality products. Under the deal, SC Johnson & Son will own the ACI brands, including ACI Aerosol, Mosquito Coil, Cockroach Killer Spray, Angelic Air Freshener and Vanish Toilet Cleaner. ACI Formulations will continue to manufacture the insect control, air care and toilet care products for the next five years, while ACI Ltd will distribute them.
The deal strengthens SC Johnson's footprint in the growing Bangladesh market, Fisk Johnson, chairman and CEO of SC Johnson. This is the first time that a Bangladeshi company has sold locally established household brands to a global company at a premium price, according to industry insiders. Global companies are eyeing the country's fast-moving consumer goods segment due to the huge population base and the impressive economic growth. Since its inception in 1967, ACI Aerosol has been a noted product in Bangladesh. In June 2008, the company launched the ACI Cockroach Spray, the first-ever locally-manufactured cockroach-killing spray.Vanish Quick Action Toilet Cleaner has been part of the ACI portfolio since 2003, but it was reborn in 2008 with new and attractive packaging in two different sizes: 500ml and 750ml. Angelic Air Freshener is the leading locally manufactured air freshener. Mosquito coil, Aerosol and air freshener account for 48.54 percent of ACI Formulations's total sales of Tk 234 crore in 2013, according to the company's annual report. SC Johnson employs about 13,000 people worldwide, with sales of $9 billion a year. It has operations in more than 70 countries and sells products in virtually every country around the world, according to the company's website. Its product portfolio includes global brands such as Pledge, Duck, Mr Muscle, Windex, Scrubbing Bubbles, Glade, Raid, Baygon and Ziploc. Earlier this month, SC Johnson purchased HomeBrands AS from Unilever CR in the Czech Republic. HomeBrands' products include pest control, home cleaning and air care brands such as Biolit insecticides, Diffusil repellents and Citresin air fresheners.
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The Queen Mother of Bhutan, Tshering Pem Wangchuck, visited BEXIMCO Group's Industrial Park at Sarabo of Kashimpur in Gazipur on 17 May. She visited the Design Studio, Woven fabric manufacturing unit, Yarn manufacturing factory, Digital Printing, Garments factory, Washing Plant, Shinepukur Ceramics factory and YELLOW display centre.
From its founding in the 1970’s by two brothers with uncommon foresight and vision, Ahmed Sohail Fasiur Rahman and Ahmed Salman Fazlur Rahman, the BEXIMCO group has grown from being focused solely upon commodities trading to the largest private sector group in Bangladesh. From real estate development to energy to aviation to textiles, the group has certainly touched lives. With a diversified group of industries accounting for almost three quarters of Bangladesh’s gross domestic product (GDP), “Taking Bangladesh to the world” seems a more-than-fitting motto for thegroup. In today’s climate of global business, it is not enough to be satisfied with success solely on the domestic level. BEXIMCO is certainly not. Even as Bangladesh’s biggest private sector employer, the group employs over 48,000 people worldwide and continues to grow. Under the guidance of its gifted management, BEXIMCO has its sights on the international market. The management team of each company work independently to achieve success. With dedication and talent to spare, it is easy to see why BEXIMCO continues to surpass expectations. One example of Salman F Rahman and BEXIMCO’s success can be seen in the manufacturing plants near Dhaka, the capital of Bangladesh. Inside the state-of-the-art plants are housed power-generation, water purification, waste water treatment and other facilities. BASF, Chevron, Macys, UNICEF, and JC Penney are just some of the Group’s global clients. However, even given all of its immense successes, BEXIMCO has not forgotten from where it came. The group has instead used the means made possible through its international successes to give back to Bangladesh society. “Proyash”, an organization sponsored by the group, promotes the holistic development of special needs children. Another institution sponsored by the Group is “Gono Sahajjo Songstha”, which offers education to underprivileged students. In the ever-evolving world of business today, very few certainties exist. However, it seems relatively certain that Salman F Rahman's BEXIMCO will continue to thrive, grow, and give back to the country of Bangladesh. Perhaps, it is time to modify that motto “Taking Bangladesh to the World” to “The World’s Taking Notice of Bangladesh". PHP Family-have received the sixth Standard Chartered-Financial Express Corporate Social Responsibility (CSR) Award-2016 for their outstanding contributions to communities beyond their corporate practices. Finance Minister AMA Muhith handed over the 6th SCB-FE CSR awards to the recipients as the chief guest at a function held at the Westin Hotel in the capital. Professor Wahiduddin Mahmud, Chairman of the 12-member CSR award committee, announced names of the winners in consideration of their roles in various arenas, especially in the fields of health, education, promotion of young talents and green manufacturing practices.
Sufi Mohamed Mizanur Rahman, Chairman of PHP Family, and Reaz Uddin Al-Mamoon, Managing Director of Epyllion Group, received the awards on behalf of their respective organisations. PHP (Peace, Happiness & Prosperity) Group started its business in 1969 to emerge later one of the leading business conglomerates in Bangladesh. It is now the well-known PHP Family. The group comprises over 30 companies that are operating in diversified business sectors like Steel, Float Glass, Aluminum, Textiles, Power, Petro Refinery, Financial Services, Agro and so on. Pioneering the steel and float glass industries in Bangladesh, the PHP Family has been continuously exploring newer horizons each day with innovative and eco-friendly technologies. Summit Group is eyeing to get listed with the Singapore stock exchange to raise capital for future energy projects in Bangladesh. The group has already started discussions with the concerned authorities in Singapore to facilitate listing there and raise funds to be uilised in projects to provide primary energy.
Summit Group is currently focusing on Bibiayana II 341 megawatts (MW) power plant in Habiganj district. Different multilateral donor agencies-Asian Development Bank (ADB), International Finance Corporation (IFC) and Islamic Development Bank (IsDB) provided US$ 210 million financing to implement the project on completion of the 222 MW simple cycle power plant. This is the largest amount of direct loan given to any Bangladeshi private sector project by any of the three development agencies. It is the largest project finance transaction carried out by a privately-owned local company. The Summit Bibiyana II having a generating capacity around 341 MW of electricity is the country's largest independent power producer (IPP). With highly efficient 9FA gas turbine, the plant has generated as high as 393 MW of electricity. The plant's noise and emission levels are well within the limits set by the World Bank (WB) and the Bangladesh Environment Conservation Rule. The SBIIPCL, owned by the Summit Corporation Ltd and the General Electric (GE) of the USA having 80 per cent and 20 per cent stakes respectively, has implemented the power plant project. The power plant is located at Parkul village in Nabiganj upazila of Habiganj district, some 180 kilometres northeast of Dhaka. The Summit-GE consortium was awarded the project work by state-run Bangladesh Power Development Board (BPDB) and the government following a competitive bidding. |
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