INDIAN ACQUISITION COMPLEMENTS REFRACTORIES PACKAGE
India’s largest producer of calcium silicate boards is now part of Calderys after its acquisition was finalised this month. Calcium silicate boards are used for thermal insulation in major industries such as cement, metallurgy, oil refinery, petro-chemical and power plants.
With this new addition, Calderys has now the largest manufacturing capacity of calcium silicate boards in India and South East Asia. This acquisition expands the existing product portfolio and will enable Calderys to provide an extended offering to customers, being the only company in India that offers the CalSil insulation products along with refractories solutions.
Hysil enjoyed a 78% market share in India with revenues of €5 million in 2019 and employed 51 people, who all joined Calderys.
The deal was signed in January this year, but final contract details had to be delayed until July due to Covid-19 related lockdowns.
“Since then, we have been busy integrating our new colleagues and introducing them to the company. We’ve held multiple knowledge-sharing sessions. Each business stream is learning from each other,” says Ish Garg, India Chairman and SW Asia VP.
“We have already communicated with our customers about the acquisition – normally we would meet with them, but the Covid-19 situation doesn’t allow it at the moment so freely. The acquisition has been well received by them – now we offer the extended package of services and products as a single supplier, we are better able to serve them.
“Over the next six to nine months, we will be investing in the Hysil’s people and site, focussing on things like safety processes, industrial improvement, commercial excellence and fully integrating the new business
“However, the priority remains the safety and health of our people, particularly now with Covid-19, so we are ensuring our new colleagues learn quickly how we operate to keep everyone safe and healthy while delivering quality products & services to our customers.”