Left Menu
Development News Edition

Greenlam acquires Europe-based Decolan SA

PTI | New Delhi | Updated: 15-05-2019 19:02 IST | Created: 15-05-2019 17:22 IST
Greenlam acquires Europe-based Decolan SA

Greenlam Industries Wednesday said it has acquired Europe-based leading supplier of decorative surfaces Decolan SA for an undisclosed amount. The acquisition is expected to be completed in the first quarter of 2019-20 and will further strengthen the company's position in the European market.

"This strategic business deal marks the first European acquisition by Greenlam and will allow Greenlam to serve the European market with greater business efficiency," Greenlam Industries MD and CEO Saurabh Mittal said in a statement. While the acquisition will amplify the company's presence in Central Europe, the deal also marks the beginning of Greenlam's next phase of growth and expansion in other European markets, he added.

"With this acquisition, we expect our on-ground product inventories to increase by three times which will help in increasing our revenues to 10 million euros in this region in the next three years," Mittal said. Post completion of the acquisition, Decolan SA would become a subsidiary of Greenlam Asia Pacific, a wholly-owned subsidiary of Greenlam Industries.

Greenlam is a leading surfacing solution brand globally and has a presence in over 100 countries. It offers end-to-end surfacing solutions spread across laminates, compacts, veneers and engineered wooden floors/doors. Declan is a Europe-based distribution company which has been the leading supplier of imported HPL and other decorative surfaces for over 20 years.

Shares of Greenlam Industries Wednesday ended 1.65 per cent down at Rs 800 apiece on BSE.



Rethinking Rural Livelihoods in the Times of COVID-19

The reverse migration caused by COVID 19 pandemic has put an additional burden of about one crore people on Indian villages particularly in the states of Uttar Pradesh, Bihar, Bengal and Odisha. Besides increasing the risk of spreading the ...

‘Discounted Deaths’ and COVID 19: Anthropology of Death and Emotions

Death is a social event rather than the mere cessation of biological functions. As seen by anthropologists, death is not just physical but intensely social, cultural, and political....

Indigenous knowledge of communities a must for maximizing impact of community work

Generally, it has been observed that the majority of the academicians in higher education institutions neglect the wisdom of community people and throw their weight around thinking that they know everything and the community knows nothing. ...

In rebuking FBR, Pakistan’s courts take a stand for public health

The system, if implemented effectively, will allow Pakistans revenue service to combat the illicit trade in tobacco products and potentially add hundreds of millions of dollars to the states budget each year. ...


Latest News

Noida: 11 arrested, owners of 737 vehicles penalized for lockdown violation

Eleven people were arrested and owners of 737 vehicles penalised across Noida and Greater Noida on Sunday for allegedly violating lockdown norms, Gautam Buddh Nagar police said. Criminal Procedure Code CrPC Section 144 is in force in Gautam...

Maharashtra reports 2,487 new COVID-19 cases, 89 deaths

As many as 2,487 more people in Maharashtra have tested positive for coronavirus, said the State Health Department on Sunday. Eighty-nine deaths have also been reported today. With 2,487 new COVID-19 positive cases and 89 deaths being repor...


Haryana to follow Centres guidelines, will not restrict interstate movement of people or goods Official....

Lockdown in containment areas extended till June 30: MP CM

The lockdown in containment areas across Madhya Pradesh will remain in place till June 30 but people wont need e-passes for intra-state and inter-state travel in personal vehicles from Monday, Chief Minister Shivraj Singh Chouhan has said. ...

Give Feedback