BEXIMCO: taking Bangladesh to the world

Globalization has now become a new world order and virtually influences everything. Developing countries like Bangladesh with vulnerable geopolitical locations and weak economies are now looking at globalization to strengthen their economy to fight any perceived threats. From the moment Bangla-desh won its independence, if not before, BEXIMCO – the largest private sector group in the country today – has been one of the most important and influential pioneers in the private industries.

The conglomerate was founded by two brothers, Ahmed Sohail Fasiur Rahman and Ahmed Salman Fazlur Rahman, in the 1970s. The two brothers have taken their business from a small jute mill to a conglomerate of over 21 companies. What makes BEXIMCO even more impressive is that it commenced operations when Bangladesh was embroiled in the middle of a war for independence against Pakistan. Today, Director Shayan Rahman represents the second generation of leadership as he takes BEXIMCO into the 21st century and turns the company into one of Bangladesh’s most exemplary ambassadors to the world.

BEXIMCO as a conglomerate has been serving the basic human needs over the decades, with operations and investments across a wide range of industries.
BEXIMCO not only sells its products and services in the domestic Bangladesh market but also in international markets. The company is the largest employer in the private sector in Bangladesh and employs over 48,000 people worldwide.

The BEXIMCO name has now become one of the most recognized brands in Bangladesh. They have four publicly traded and 17 privately held companies. The publicly traded companies are Bangladesh Export Import Company Ltd., Beximco Pharmaceuticals Ltd., Shinepukur Ceramics Ltd. and Beximco Synthetics Ltd., which together have a combined market capitalization of approximately $675 million. The total revenues of the group were of $834 million in 2010.

BEXIMCO boasts state-of-the-art manufacturing plants located in the vicinity of Dhaka, which provide the group with a highly cost effective manufacturing base. A majority of its plants are in the BEXIMCO Industrial Park, a vertically integrated self-contained facility. This facility provides ready access to captive power generation, water purification, liquid nitrogen, wastewater treatment and other key infrastructure. 

The group’s global clients include some of the world’s most well known brands including BT, BASF, Chevron, Calvin Klein, H&M, JCPenney, Macy’s, Zara, UNICEF, Royal Doulton, and Villeroy & Boch.

Achievements

Since the company launched its own brand in 1983, BEXIMCO Pharma has remained one of the fastest growing pharmaceutical companies in the country. It witnessed particularly phenomenal growth during the 1980s and 90s owing to its outstanding product quality and acceptability among doctors. With its range of innovative products and professional services to the medical community, the company built its unique brand positioning as "trend setter" in the Bangladesh pharmaceutical industry.

The company led the industry to diversify into active pharmaceutical ingredients (API) in the early 90s, and explored the immense opportunities in overseas markets for locally manufactured medicines. Today, BEXIMCO Pharma is one of the largest exporters of pharmaceuticals in the country and it has received National Export Trophy “Gold” for a record three times for its outstanding achievement in export. BEXIMCO Pharma still remains the only company in Bangladesh to receive regulatory approvals from ANVISA (Brazil), Australia’s Therapeutic Goods Administration (TGA), and Gulf Central Committee for Drug Registration (for GCC member states) for its manufacturing facilities.

Approvals from UK MHRA, EMEA and USFDA are in process for its Oral Solid Dosage and Metered Dose Inhaler facilities. The company has the unique distinction of being the only Bangladeshi company to be listed on AIM of London Stock Exchange.

Shinepukur Ceramics was certified ISO 9001:2000 in August 2001, which was later upgraded to its 2008 version and has been certified as the most environmentally-friendly tableware plant in the sub-continent. Regular environment protection practices have been set up in line with EIA Reports and World Bank guidelines for internationally accepted standards. The company has become the top ceramic tableware exporter from Bangladesh between 2004 and 2010.

Each group company is managed by an independent, professional team with significant depth of experience. Management teams have established a clear strategic plan that will further strengthen the overall platform.