Square_(conglomerate)

Square Group

Square Group

Bangladeshi Conglomerate

Square Group (Bengali: স্কয়ার গ্রুপ)[1] is a Bangladeshi diversified multinantional conglomerate based in Dhaka. Samuel S Chowdhury is the chairman and Tapan Chowdhury is managing director of Square Group.[2][3] Square Group has 60 thousand employees.[3]

Quick Facts Formation, Founder ...

History

Square Group was founded in 1958 Samson H. Chowdhury and three friends as a pharmaceutical company, Square Pharmaceuticals in Pabna.[4] Samson H Chowdhury used to own a pharmacy, founded in 1952, in the Ataikula village in Pabna District.[5]

In 1974, Square Pharmaceuticals worked with Janssen Pharmaceutica, a subsidiary of Johnson & Johnson.[6]

In 1987, the group started exporting pharmaceuticals from Bangladesh.[6]

Square Group launched Senora in 1989, which was the first Sanitary napkin manufactured in Bangladesh.[7]

In 1994, Square Toiletries Limited became a private limited company.[6]

In 1997, Square Group was awarded the national export trophy for exporting pharmaceuticals from Bangladesh.[6] Square Textiles Limited was established in 1997.[6]

Square established a pharmaceutical factory under the supervision of Bovis Lend Lease in 2001.[6]

In 2002, Square Textiles Limited was listed on the Dhaka Stock Exchange.[6]

Square Group founded Square Hospital on 16 December 2006 in Dhaka.[8] Joe Davis-Fleming was appointed the first CEO of the hospital.[9] The 250 bed hospital was built on a 3.5 billion taka budget.[10]

Square Group started exporting food products to Japan through Square Consumer Products Limited in 2008.[11]

On 9 March 2012, the board of directors of Square Group appointed Samuel S Chowdhury Chairperson of the group.[12] Mikhail V Myasnikovich, Prime Minister of Belarus visited Square Pharmaceuticals factory in Gazipur District and signed a MOU to import pharmaceutical products.[13]

On 9 April 2015, Square Textiles announced plans to invest 1.13 billion taka to expand production facilities.[14] Square Toiletries started the manufacturing of diapers in 2015.[15]

On 26 August 2016, Square Denim started operations from Habiganj District.[16]

On 10 January 2018, Square pharmaceutical started construction of a pharmaceutical factory in Nairobi, Kenya through its subsidiary Square Pharmaceuticals Kenya EPZ Ltd. The inauguration of construction was attended by Major General Mohammad Humayun Kabir, Bangladesh High Commissioner to Kenya, Tapan Chowdhury, managing director of Square Group, and Adan Mohamed, cabinet secretary of Kenya.[17] Production at the factory is scheduled to start in 2022 delayed by the COVID-19 pandemic.[18]

Square Group launched a helicopter service called Square Air Limited in 2019.[19] It operates three helicopters and clientele includes government ministers and high-ranking officials visiting projects outside of Dhaka.[20]

The Daily Star reported in January 2020 that Square pharmaceutical prices had declined on Dhaka Stock Exchange for "no reason".[21] Square Group received permission to export pharmaceuticals to Democratic Republic of the Congo on 10 March 2020.[22] Square Group donated 10 thousand sets of personal protective equipment to the Directorate General of Drug Administration in March 2020 during the COVID-19 pandemic in Bangladesh.[23] On 26 October 2020, Square announced plans to invest 2.5 billion taka to expand pharmaceutical production to meet increasing demand.[24]

Square Group is a signatory of the United Nations Global Compact.[2] HSBC provided a 10 billion taka loan to Square Group, which was the first in Bangladesh that was linked with sustainability in 2021.[2]

See also

References

  1. [1]
    স্কয়ার বহুজাতিক কোম্পানি হওয়ার পথে. Prothom Alo (in Bengali). Retrieved 2021-05-11.
  2. [2]
    "HSBC lends Square Tk 1,000cr in Bangladesh's first sustainability-linked loan". The Daily Star. 2020-06-24. Retrieved 2021-05-11.
  3. [3]
    "Youth must work for development: Square Group chief". The Daily Star. 2016-05-26. Retrieved 2021-05-11.
  4. [4]
    "Samson Chy - an inspiration to nation". The Daily Star. 2012-01-14. Retrieved 2021-05-11.
  5. [5]
    "About Square Group". squaregroup.com. Retrieved 11 May 2021.
  6. [6]
    "Square: the rise of a giant". The Daily Star. 2012-01-06. Retrieved 2021-05-11.
  7. [7]
    "Local sanitary napkins now hold 80pc market share". The Daily Star. 2008-07-04. Retrieved 2021-05-11.
  8. [8]
    "Square Hospitals Ltd – AT SQUARE WE CARE". www.squarehospital.com. Retrieved 2021-05-11.
  9. [9]
    "The Daily Star Web Edition Vol. 5 Num 910". The Daily Star. Retrieved 2021-05-11.
  10. [10]
    "The Daily Star Web Edition Vol. 5 Num 890". The Daily Star. Retrieved 2021-05-11.
  11. [11]
    "Square carves niche in Japan food market". The Daily Star. 2008-10-23. Retrieved 2021-05-11.
  12. [12]
    "Square Group gets new chairman". The Daily Star. 2012-03-09. Retrieved 2021-05-11.
  13. [13]
    "Belarus to import drugs from Square". The Daily Star. 2012-11-14. Retrieved 2021-05-11.
  14. [14]
    "Square Textiles to invest Tk 114cr to raise capacity". The Daily Star. 2015-04-09. Retrieved 2021-05-11.
  15. [15]
    "Locally made baby diapers gaining popularity". The Daily Star. 2015-10-28. Retrieved 2021-05-11.
  16. [16]
    "Denim by Square flourishes as purchase orders pour in". The Daily Star. 2016-08-26. Retrieved 2021-05-11.
  17. [17]
    "Square Pharmaceuticals begins constructing Kenya plant". The Daily Star. 2018-01-10. Retrieved 2021-05-11.
  18. [18]
    "Square Pharma set to launch factory in Kenya". The Daily Star. 2021-05-06. Retrieved 2021-05-11.
  19. [19]
    "Square Air Limited - Corporate Charter, Air Ambulance, Travel agents, Tour operators, Medical evacuation, Aerial shooting Bell 407, Robinson R66 Helicopter Bangladesh". www.squareair.com.bd. Retrieved 2021-05-11.
  20. [20]
    "Chopper rentals fail to take off". The Daily Star. 2019-10-17. Retrieved 2021-05-11.
  21. [21]
    "Square Pharma stock price sinks for no reason". The Daily Star. 2020-01-03. Retrieved 2021-05-11.
  22. [22]
    "Now Square gets approval to ship medicines to Congo". The Daily Star. 2020-03-10. Retrieved 2021-05-11.
  23. [23]
    "Corporate giants join in fight". The Daily Star. 2020-03-31. Retrieved 2021-05-11.
  24. [24]
    "Square Pharma plans Tk 250cr expansion". The Daily Star. 2020-10-26. Retrieved 2021-05-11.
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