Saurabh Mittal, MD & CEO, Greenlam Industries Ltd. said, "This strategic business deal marks the first European acquisition by Greenlam and will allow Greenlam to serve the European market with greater business efficiency. 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 the European markets. 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. We are excited as we continue to add dimension to our Surfacing solutions business by bringing forward great new designs, enhanced marketing materials & highly developed field professionals."
Post the acquisition, Decolan SA is going to be managed as a subsidiary of Greenlam Asia Pacific which is a wholly-owned subsidiary of Greenlam Industries Limited. The existing Decolan's team and management will be a part of Greenlam Decolan SA which will allow to further strengthen relations with customers and suppliers in the European markets.