HIL has received approval to acquire 100% equity share capital of Crestia Polytech along with four other entities, namely, Topline Industries, Aditya Polytechnic, Sainath Polymers and Aditya Industries at an aggregate enterprise value of Rs 265 crore on cash free and debt free basis to strengthen Company’s Pipes and Fittings business in Eastern India.
With the proposed acquisition, HIL will have additional capacity of around 83,500 MTPA in East India to cater the eastern states of India and customer access along with government approvals to HIL in relevant products and geographic segments. The acquisition offers an attractive geographical advantage with growth potential, logistics advantage and upcoming manufacturing hub. This will help HIL to enter into new product segments including HDPE pipes and fittings, electro fusion fittings and water tanks.
HIL offers comprehensive building solutions. The company has achieved market leadership by developing and marketing advanced, high quality, innovative, more sustainable products for the building materials industry.
