Astral Poly Technik Lt.

acquires 80% controlling stake in UK based

SEAL IT services Ltd (BOND IT) for Rs 440 million

Ahmedabad, Gujarat, 26
th
August, 2014 - Astral Poly Technik Ltd., (BSE:
532830 | NSE: ASTRAL ) leaders in manufacturing of CPVC pipes and fittings and
specialty adhesives for plumbing has acquired 80% controlling stake in UK based
Company SEAL IT Services Ltd, manufacture of various types of Adhesives and
Sealants, for Rs 440 million (GBP 4.4 million).
SEAL IT Services Ltd was formed in July 2002, having its manufacturing facilities at
Elland. It operates under the brand name BOND IT, which is one of UKs leading
independent manufacturers of sealants, adhesives, waterproofing compounds and other
building chemicals. It operates from a modern 40000 sq feet site having R & D facilities
at plant and strictly adheres to ISO 9001 protocol.
Sandeep Engineer, Managing Director, Astral Poly Technik says, The equity deal
with SEAL IT represents the second joint venture for Astral Poly Technik outside of
India. Having encountered SEAL IT's operations, we were impressed with the company
and its product portfolio. We believe that there is a very big market for these products in
India and the neighbouring countries and the same could contribute largely to the growth
of the Company, both in terms of Revenue and its bottom line.
The adhesive market in India alone is in excess of Rs 6000 crores and Astral stands to
gain due to the large product portfolio of SEAL IT in this segment. Astral will get
additional advantage since a number of new products are at the R & D stage.
Additionally, since Astral has a strong Network of 400+ Distributors and 18000+ dealers
across the country, very good presence in B to C segment and healthy relationship with
ABC (Architects, Builders & Consultants), the acquisition augurs well for the Company.
Presently, SEAL IT is exporting its products throughout Europe, Africa and Middle East.
The UK company will provide the technology to Astral, which will manufacture locally if
required under their international brand name BOND IT. Astral will also explore the
Middle East market from its Indian manufacturing operations in because of the logistics
and cost advantages.





Astral has a very good name in projects. This product also has very good business
opportunity in B to C business segment. Astral is known for its Quality Products and that
is the reason why we selected a UK based company which has the highest standard of
Quality and state of the art Technology of its R&D division of SEAL IT Services, added
Mr. Sandeep Engineer
SEAL IT plans to use this relationship for its further aggressive plans for
expansion. Speaking on the occasion, David Moore, Managing Director at SEAL IT,
said: "The deal with Astral Poly Technik represents a win-win situation for everyone
involved. This will enable them to maximise some of the impressive opportunities offered
by the Indian economy - one of the fastest growing markets in the world. For SEAL IT,
the additional backing will enable us to accelerate ambitious and global plans for the
future, and to offer our growing customer base more products in more volumes than ever
before. We will also be able to make further investments into those areas which make a
real difference to customers - such as product development and sales support.
To complete the transaction Astral has been supported by KPMG for Financial Due
Diligence and Mr Sandip Khroud from national law firm Irwin Mitchell led the legal
team in the UK. HSBC has funded the entire transaction.
About Astral Poly Technik Ltd:
Astral Poly Technik (APTL) was formed in 1999 to manufacture the CPVC plumbing
systems in India. Astral Poly Technik Ltd.is the First licensee of Lubrizol (USA) to
manufacture and market the CPVC plumbing systems in India.
The company Started Lead free PVC based plumbing solutions in 2004. Recently
company has received the BIS certification for its State of Art Technology product
BLAZEMASTER under the license arrangement with Lubrizol Advanced Material and
which will be first time in India. Besides this company is enjoying exclusive licence of
Flowguard Bendable Pipes with Lubrizol which Astral is the only company in Globe at
present to manufacture in India and exporting to USA & Maxico. It has 4 manufacturing
locations at Santej (Gujarat), Dholka(Gujarat) , hosor (Tamil Nadu) and Baddi(H.P.).
About SEAL IT Services Ltd
Name of Company : SEAL IT Services Limited
Brand Name of Products : BOND-IT
Product Range :

1) MATE RANGE : Silicone Sealant /construction/water base etc.
2) PREMIER RANGE : Gist/Reload/Polyurethane Foam
3) ADHESIVES : Construction /specialists glue/PVA/Industrial
4) TILES ADHESIVES & GROUTS : Ready-mix Adhesives/ Powder Adhesives



5) BUILDERS COMPLETE RANGE : Chemicals & Mixing /concentrates /Oil &
preparatory /Level & Fire Cement /Cleaning
Products/ Tape & paints
6) CLEAN IT RANGE : House Hold Cleaners & Degreasers
7) BITU BOND RANGE : Bitumen Compound and Water Proofing
Systems.
8) PLUMBING RANGE : Plumbing Solutions
9) FLOORING RANGE : Leveling and Flooring Adhesives

Website address of Company : www.bond-it.co.uk
Rs.(Mn)
Key Financial Highlight (2013-14) : SALES 1328.60
(Conversion Rate of 1GBP =Rs. 100) EBITA 78.69
PBT 59.30
PAT 45.80
NET DEBT 143.40
FIXED ASSETS 69.90