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Hindusthan National Glass eyes more buyouts in Europe

05 Dec 2011 Evaluate

Hindusthan National Glass & Industries Ltd (HNG) is eyeing more acquisition opportunities in the container glass segment in the crisis-hit Euro zone region. In its maiden overseas venture, HNG had acquired assets of Agenda Glass AG in Germany from the insolvency administrator at a consideration of €50 million (approximately Rs 345 crore at the current exchange rate), earlier this fiscal.

Even though it is looking forward to acquiring more assets abroad, the company has ruled out West Asia and North Africa from its list of probable destinations following the political unrest in the region. While opportunities are being evaluated in Southeast Asia (including Thailand, Philippines, Malaysia and others), the company is keenly watching developments in Europe.

The company's acquisition agenda will revolve on three basic criteria — quality of asset, product portfolio and availability of local market. While local market will help HNG run its overseas operations profitably, the company is particularly targeting acquisitions that offer it direct access to first world technology and best practices, thereby helping to make its Indian operations more cost competitive, efficient and offering a wider bouquet of products to consumers.

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