 |
|
Special Supplement Monday May 19 , 2008 |
|
Enterprise of the Year Sohel Parvez Its humble journey began at a small factory in Old Dhaka with a capital of only Tk 3,500 in 1969. Today Tk 250 crore Bengal Plastic is one of the leading plastic goods making companies in Bangladesh employing around 2000 people. "Use of plastic spare parts in jute mills inspired me to go for the venture to manufacture the products locally, recalled 58-year old Morshed Alam, the architect of Bengal Plastic and Bengal Group of Companies, which consists of nine industrial units in diversified fields of plastic processing, chemicals, food processing and trading.
"During the pre-liberation war period jute mills started using imported plastic spare parts. I saw opportunities and I made the decision to produce the items through hand machine," Morshed added. Morshed started manufacturing by a single hand-operated plastic injection-molding machine in rented premises. He sourced 25 kg of raw materials from a German company called Bayer. “I sold about Tk 7,000 products at the beginning and it was the real boost,” Morshed said. The success told him to set up automatic machines in 1978: he expanded product base, manufacturing household utensils such as plastic jug and plastic plate. Innovation and new products always give Bengal Plastic an edge. In 1991, Bengal Plastic started manufacturing garment accessories such as plastic hangers. It got a boost in business after wining contracts to supply crates to Coca Cola and Pepsi in 1992. “The year 1992 was a turning point for our business as we got the first orders from international buyers,” Morshed said. The plastic industry that has evolved following the success of Bengal Plastic of Industries now contributes about over 0.50 percent to GDP. The industry has created employment for about half a million people in the fields such as PVC pipe, garments accessories, polythene bag, artificial leather, jute and textile spares, toys, plastic waste recycling, computer accessories, auto lighting and plastic furniture. Exports earning from the sector, comprising of about 3,000 manufacturers, almost doubled from US$ 28.8 million in the fiscal year 2003-04 to $53.6 million in the fiscal year 2004-05. The sector earned $56.6 million in 2005-06. Now the future of plastic goods industry hinges mainly on the performance of the country's garment industry. "We will grow and perform well if the garment sector continues to perform well,' said the chairman of Bengal Plastic. Bengal Plastic manufactures various garment accessories such as hangers, poly bag, carton sealing tapes, and strapping band. The company also makes containers for paint factories, molded furniture and various injection molded parts for different industrial applications. Bengal Plastic registered 23 percent growth in its turnover from $32.5 million in 2006 to $40 million in The company won the national export trophy twice -- silver medal in 1997-98 and gold medal in 2000-2001. In its long business career, the company has maintained a good credit record with banks. It has also got the ISO accreditation environmental management system. Bengal Plastic offers equal opportunities for male and female employees. "I have always maintained business commitment and product quality since the beginning of my business," said Morshed. "Now my best asset is good will,” he said," product quality in the long run pays dividends." Sitting in his modestly decorated room, clean shaved and gray haired Morshed now dreams to go for another venture before handing over the keys of his businesses to successors. The owner of the Bengal Group of Industries now wants to set up a modern spinning and weaving factory at a cost of Tk 130 crore. “It's my dream project. I will be happy to see it as another successful venture," said a smiling Morshed. |
|
© thedailystar.net, 2008. All Rights Reserved |
2007. The export destinations of the company, which targets $40 million export in 2008, include European countries, the US and Canada.