*HSIL Ltd* is acquiring the faucet business unit of Havells India Ltd in an all cash transaction. The deal size was not disclosed.
HSIL will acquire Havell’s manufacturing plant in Rajasthan, which manufactures brass bathroom fittings and accessories. Transaction Note *Havell’s Group* entered this business in 2002, though a 74:26 JV with Italy’s leading bathroom fittings company, *Fratteli Frattini*. The JV – Crabtree Aquatech Ltd was launched to manufacture and sell high-end faucets and bathroom fittings in India. The plant which is being sold to HSIL was set up with an initial investment of Rs 20 Cr. *HSIL Ltd* – founded by *Rajendra Somany* - operates in the business segments of segments of sanitary ware and glassware. The sanitary ware division offers bath fittings, bathtubs and whirlpools, bath concepts, kitchen sinks and kitchen appliances. It sells its sanitary ware under *Hindware*, Keramag and Raasi brands. The glass division called AGI Glaspac manufactures glass containers and has a range of over 430 products in three colors. According to a report by KPMG, the sanitary and bathware segment has been growing at 12% -15% year-on-year. The market size is estimated at $500 million, while the organised sector contributes over half of the total sales by value. KVEZAR® VIEW DEAL TRACKER FOR DateTypeSub TypeBuyerSize Havell Faucet Business - HSIL 17/03/10 M&A Acquisition HSIL Limited 0.00 Recent Transactions In The Sector DateTypeBuyerTargetSizeState 17/03/10 M&A HSIL Limited Havell's - Faucet Business Unit 0.00 Announced 12/03/10 IPO / Offerings Sundaram Multi Pap Ltd. 22.00 Planned 05/03/10 M&A Schneider Electric India Pvt Ltd. Special Project Group 49.30 Completed 05/03/10 IPO / Offerings Bajaj Corp Ltd 0.00 Announced Profiles Company NamePromotersOfficeCompetitorWebsite Havells India Ltd. Qimat Rai Gupta Family 1/7,Ram Kishore Road, Civil Lines, Delhi-110054 Bajaj Electricals Ltd. Finolex Cables Ltd. Anchor Electricals Pvt. Ltd www.havells.com HSIL Limited Rajendra Kumar Somany & Family Paco Exports Ltd Soma Investments Ltd 2 Red Cross Place, Kolkata, West Bengal-700001. www.hindwarehomes.com -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
