HIL Ltd set to acquire Parador, a leading flooring solutions in Europe
Myequity news service | Date : 13-07-2018 11:30:00 IST
HIL Ltd, one of India’s most respected names in the building material solutions industry,part of the USD 1.8 billion diversified CK Birla Group, today announcedthe acquisition of Parador Holdings GmbH, a Germany based, vertically integrated, full-range supplierwhich designs, manufactures and distributes a wide range of flooring solutions including resilientflooring, laminate and engineered wood floors, wall & ceiling panels, skirtings and related accessories.
This acquisition will enable HIL’s transition into a global player in the Building Materials segment. Itwill facilitate entry into Flooring Solutions, a segment, which is highly complementary to HIL’s currentproduct portfolio and also provide a renowned brand with strong R&D and design capabilities.
Mr. CK Birla, Chairman of the CK Birla Group, said: “The acquisition of Parador fits into our strategicroadmap and is an important step towards becoming a global player in the building materials industry.It also enables us to enter into adjacent categories for future growth. Parador’s strong developmentalcapabilities will enable us to build flooring solution products suited to India and South East Asianmarkets.”
Mr. Dhirup Roy Choudhary, Managing Director & CEO of HIL said “With world class developmentcapabilities and strong customer relationships, we found Parador flooring solutions to be a greatalignment with our existing offerings at HIL and it takes us closer to our aspiration of one stop shopfor all Building Materials and products. The synergistic combination of complimentary portfolios willcreate a stronger global business. We believe that we will be able to expand the product sales intoIndia and other South East Asian nations, which will enable us to drive faster growth.” About HIL Limited:
Established in 1946, HIL Limited is a flagship company of the CK Birla Group. Being World’s largest manufacturer and sellerof fibre cement roofing, HIL Limited offers comprehensive building solutions. Since last 70 years, the company has achievedmarket leadership by developing and marketing advanced, high quality, innovative, more sustainable products for thebuilding materials industry. It has recently been awarded Iconic Brands status by Economic Times. HIL has two major brandsBirlaAerocon and Charminar. The company boasts of 20 state-of-the art manufacturing facilities, reiterating its commitmentto innovation through a dynamic R&D facility, offering products that are affordable, strong and durable. Having pioneeredin green technology keeping in mind the paradigm shift to green building materials almost a decade ago, the company stands out with its signature True Fit technology that has created a benchmark in the piping industry. The company is committed tohealth and safety practices, which is reflected through its vast range of products that are environmentally viable andconducive. Given its strong emphasis on customer centricity, HIL Limited also ensures a widespread reach through anextensive sales and distribution network spread across the country, with a representation in all the states. Its strengths aretruly its employees, loyal dealers and satisfied customers.About Parador:
Parador GmbH has developed into the leading brand of high-quality systems for floor and wall design since its foundation in1977. The product range includes laminate flooring, engineered wood flooring, panels and resilient floorings produced at theGerman headquarters in Coesfeld and at the Austrian site in Güssing. Highest demands on technology, materials and surfacerefinement guarantee the worldwide success.
For outstanding product design, Parador was awarded international prizes, including the red dot design award, the InteriorInnovation Award and the German Design Award.
As a traditional woodworking company, Parador is committed to responsible management of natural resources and sets ecological standards for materials, production, packaging and logistics. Parador has been a partner of the "Plant-for-thePlanet"Foundation, which is active worldwide for afforestation and climate protection.HIL Limited closed 2.10% down at Rs 1,826.00