Berger Paints: Working Capital Management
Introduction
Berger Paints Bangladesh Limited (BPBL) is a renowned paint company in Bangladesh. The Company was introduced on 6 June 1973 as a private co. limited by shares registered under the Company Act. In December 2005, the company issued 5% shares to the public and listed with Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE). BPBL previously was known by Jenson & Nicholson (J & N). The name of the company was changed from J& N (Bangladesh) Limited to Berger Paints Bangladesh Limited on January 1, 1980. Currently BPBL’s number of shares is 23,188,940. Its Authorized capital is Taka 400 million and its paid up capital is Taka 232 million.
Historical Overview
Berger, the market leader in the Bangladesh paint market is one of the oldest names in the paint Industry and the country’s major specialty paints business with products and ingredients dating back more than 249 years to 1760. Louis Berger, a Germen national founded dye and pigment making business in England. Louis Berger and sons grew rapidly with a strong reputation for innovation and entrepreneurship culminating in perfecting the process of making Prussian blue, a deep blue dye- a colour widely used for the uniforms of many European Armies. Production of dyes and pigments evolved into production of paints and coating, which till today, remains the core business of Berger. The company grew rapidly by establishing branches all over the world and through mergers and acquisitions with all other leading paint and coating manufacturing companies.
Berger has been involved in the paint business in this part of the world since 1950, when paints were first imported from Berger UK and subsequently from Berger Pakistan. In 1970, Berger paints Bangladesh limited (BPBL), erstwhile Jenson and Nicholson, had set up its paint factory in Chittagong at an estimated investment of TK 4 million. The share holders were Jenson & Nicholson (J & N), Duncan McNeil & Co. Limited and Dada
Berger Paints Bangladesh Limited (BPBL) is a renowned paint company in Bangladesh. The Company was introduced on 6 June 1973 as a private co. limited by shares registered under the Company Act. In December 2005, the company issued 5% shares to the public and listed with Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE). BPBL previously was known by Jenson & Nicholson (J & N). The name of the company was changed from J& N (Bangladesh) Limited to Berger Paints Bangladesh Limited on January 1, 1980. Currently BPBL’s number of shares is 23,188,940. Its Authorized capital is Taka 400 million and its paid up capital is Taka 232 million.
Historical Overview
Berger, the market leader in the Bangladesh paint market is one of the oldest names in the paint Industry and the country’s major specialty paints business with products and ingredients dating back more than 249 years to 1760. Louis Berger, a Germen national founded dye and pigment making business in England. Louis Berger and sons grew rapidly with a strong reputation for innovation and entrepreneurship culminating in perfecting the process of making Prussian blue, a deep blue dye- a colour widely used for the uniforms of many European Armies. Production of dyes and pigments evolved into production of paints and coating, which till today, remains the core business of Berger. The company grew rapidly by establishing branches all over the world and through mergers and acquisitions with all other leading paint and coating manufacturing companies.
Berger has been involved in the paint business in this part of the world since 1950, when paints were first imported from Berger UK and subsequently from Berger Pakistan. In 1970, Berger paints Bangladesh limited (BPBL), erstwhile Jenson and Nicholson, had set up its paint factory in Chittagong at an estimated investment of TK 4 million. The share holders were Jenson & Nicholson (J & N), Duncan McNeil & Co. Limited and Dada