HSIL eyes European buy, to expand domestic capacity

Leading sanitaryware and glass bottles manufacturer, HSIL, is eyeing an European sanitaryware brand for acquisition at a deal-size of around $5-million and expects to seal the transaction within 6-months, a senior company official said.

By PTI | Jul 05, 2010, 04.49 PM IST

MUMBAI: Leading sanitaryware and glass bottles manufacturer, HSIL, is eyeing an European sanitaryware brand for acquisition at a deal-size of around $5-million and expects to seal the transaction within 6-months, a senior company official said.

"We have shortlisted 3-4 European companies and the deal-size could be around USD 5-million. We expect to seal the deal in about six-months," HSIL's President, Buildings & Products, R B Kabra, told PTI here today.

HSIL is looking at companies with a good distribution network in Europe. It might also manufacture under that brand in India and distribute it in Europe, he said.

"The companies we are targeting are family-owned businesses and it will take about 6-months to seal an acquisition," he said.

The Rs 800-crore company, which presently has two manufacturing facilities in Delhi and Hyderabad, plans to set up a third one in the western part of the country with a capacity of 1.5-million pieces, at an investment of around Rs 80-100-crore. "This will, however, be done after a couple of years," Kabra said.

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