HIL to acquire Crestia Polytech for $32m.

HIL, a manufacturer and seller of fibre cement roofing, agreed to acquire Crestia Polytech, a manufacturer in the pipes and fittings industry, for $32m. “The unique capabilities of Topline perfectly complement HIL’s portfolio and open new product segments and markets for us. This acquisition will enable our entry into large segments such as high-density polyethylene (HDPE), medium density polyethylene (MDPE) and Water tanks. In fact, we will nearly double our SKU offerings. Access to patented technologies in Electrofusion fittings and Water tanks will position us among the top tier players. This also enhances HIL’s presence in significant government projects and secures JJM (Jal Jeevan Mission) approval across 12 states. We will now be able to serve customers in sectors such as Agriculture, Telecom and Natural Gas,” Akshat Seth, HIL Managing Director and CEO.