HLE Glascoat to acquire Thaletec for $14m.

HLE Glascoat, a manufacturer of process equipment, agreed to acquire Thaletec, a manufacturer of glass-lined process equipment, for $14m. "We are thrilled to announce this very significant development which meets all the criteria set out by our Group in terms of profitability and growth potential. While this transaction creates excellent value for our shareholders and allow us to accelerate our expansion plans, Thaletec also shares our existing vision, values and strategic thinking. It is a historic moment for us looking at the immense possibilities that lie ahead for both brands to serve our customers with innovative and world class products as per their fast evolving tastes and requirements," Himanshu Patel, HLE Glascoat Chairman and MD.