HIL Limited to acquire Parador

The Indian building materials manufacturer HIL Limited, a subsidiary of the CK Birla Group, is to acquire Parador from its previous majority owner, Nord-Holding Unternehmensbeteiligungsgesellschaft mbH. The process was initiated on conclusion of an agreement. "We are pleased to have a strategic investor on our side in HIL Limited who will join forces with us in the long term to pursue our chosen path to growth and advance the successful business model," said Lubert Winnecken, chairman of Parador's executive board.HIL Limited considers itself a leading manufacturer of building materials and construction elements on the Indian subcontinent. The group of companies aims to expand its international presence with the acquisition. "In Parador we have found a strong brand that is known internationally and has great potential. The synergy effects within our complementary portfolio will strengthen Parador and our other brands in the international environment," stated Dhirup Choudhary, CEO of HIL Limited.Nord-Holding Unternehmensbeteiligungsgesellschaft mbH acquired Parador and its subsidiaries from the previous owner, the Hüls business group, on 1 October 2016.