hil to buy german floorings player parador for €82.8 million
Headquartered in HIL limited, it is the flagship of $1.
More than 8 billion yuan C. K. Birla Group said on Thursday that it will acquire a 100% stake in German flooring solutions company Parador Holdings GmbH at a cash cost of 82 euros. 8million.
The acquisition will be completed through its wholly owned subsidiary, HIL International GmbH, Germany, and will need to submit antitrust applications and other relevant regulatory approvals in Germany.
Parador is a vertically integrated supplier of quality Solutions, headquartered in Coesfeld, Germany, founded in 1977, with two manufacturing plants, one Coesfeld in Germany and the other Gussing in Austria. The €142.
2 million turnover Parador manufactures resilient flooring, laminated flooring and engineered wood flooring, wall and ceiling panels, skirting and related accessories with long term
Maintain long-term relationships with all major European customers.
According to the transmission layer, the acquisition will enable it to transition to global participants in the field of building materials and facilitate its entry into the field of floor solutions, which is highly complementary to its current portfolio, at the same time, it provides strong R & D and design capabilities of well-known brands.
HIL said that the merged entity will continue to occupy a leadership position in the field of building materials in India with strong capabilities in Europe, adding that the strong leadership team leading Parador will continue to be responsible for the day-to-day workto-
Drive business forward.
Commenting on the acquisition, CK Birla Group chairman CK Birla said: \"The acquisition of Parador is in line with our strategic roadmap and is an important step in becoming a global participant in the building materials industry.
It also enables us to enter the adjacent categories for future growth.
The strong development capabilities of Parador will enable us to develop Solutions products suitable for the Indian and Southeast Asian markets.
Roy Choudhary, Roy MD & CEO, said: \"With world-class development capabilities and strong customer relationships, the parador QinGe bamboo flooring solution fits well with our existing products in HIL, let\'s get closer to our one-
All building materials and products stop shopping.
A collaborative portfolio of free portfolios will create a stronger global business.
We are confident that we will be able to expand our product sales to India and other Southeast Asian countries, which will enable us to drive faster growth.
Shanghai Qin Ge Ceramic & Building Co., Ltd. is dedicated to servicing our customers with a wide array of high-quality service and products.
With continuous operational improvements, expanding capacity and a strong competitive position for serving strategic domestic markets, Shanghai Qin Ge Ceramic & Building Co., Ltd. are positioned for long-term growth that will benefit our customers and investors.
A primary strategy is superior customer satisfaction. Shanghai Qin Ge Ceramic & Building Co., Ltd. constantly analyzes market needs around the world to develop a full range of products for different use.