Prisma Engineering in Bangladesh
The story of Jonathan Group's investment plan in Prisma Engineering begins in 2022, when Nicolaj Bøjlund, the Production Director at Treco A/S, connects the board with the company from central Bangladesh.
Nicolaj has a history with Unitech, where he was stationed in Bangladesh for 2.5 years. Unitech was a Danida project aimed at optimizing and developing companies to Western standards.
During his time at Unitech, Nicolaj worked closely with engineer Polash Sikder, who was also employed at Unitech. Therefore, it was natural for Nicolaj to contact Polash when Jonathan Group was ready to launch its first investment project.
In the meantime, Polash Sikder had started his own business. He found the right partners and established the manufacturing company Prisma Engineering in 2022, along with Md. Nurul Islam, who owns the buildings, and his son, Md. Harun.
In just two years, Prisma Engineering has grown to have 30 employees today, with increasing profits and revenue.
In November 2023, the board of Jonathan Group decided to hold a case seminar on Prisma Engineering. Fifteen members of Jonathan attended the seminar, aiming to determine the feasibility of investing in the company.
The program includes visits to businesses featuring presentations by employees and management, as well as private visits with Polash and Md. Nurul Islam. Through process management conducted by Jonathan, participants will have the opportunity to interview management and staff. In conclusion, a summary will be prepared in collaboration with the three owner-managers from Prisma Engineering.
The conclusion is that Prisma Engineering is a skillfully managed and reputable company that has succeeded in establishing a healthy, growing business in a short amount of time, even amidst a global recession. The company has generated revenue with a significant profit in 2023.
Before leaving Bangladesh, a handshake agreement was made for Jonathan Group to invest in the company, now holding a 25% ownership stake in Prisma Engineering.
The investments in the company will, among other things, finance the optimization of working conditions and the streamlining of operations within the company. As illustrated in the images from the case seminar, there is potential for enhancing safety measures, and the availability of tools is limited.
With the financial injection from Jonathan Group, we can ensure that safety, working conditions, and efficiency meet Western standards.
Jonathan Group's mission is to support the company's operations while simultaneously improving the living conditions of the many employees and their families. We do this through carefully selected projects aimed at supporting help to self-help in owner-managed businesses in developing countries.
In the long run, we believe this makes perfect sense.
Prisma Engineering
Steel furniture in sheet metal
30 employees
25%
