Prince Pipes Completes Acquisition of Manufacturing Facility at Bhuj, Gujarat

Prince Pipes and Fittings Ltd. has completed the second phase of the Asset Purchase Agreement with Klaus Waren Fixtures Private Limited and Mr. Narshi Mulji Shah for the acquisition of certain identified assets relating to the Aquel bathware business. The acquisition includes a land parcel, buildings, machinery and manufacturing equipment, office furniture and fixtures located at Bhuj, Gujarat. This acquisition strengthens Prince Pipes’ strategic diversification in the Bathware segment and will serve as the manufacturing base for the Company’s bathware operations. The ‘Aquel by Prince’ product portfolio, which includes faucets and bathroom accessories, will be scaled with this acquisition. Prince Pipes and Fittings Limited is a leading piping solutions provider in India, with a network of more than 1,500 distributors and 9 manufacturing units across the country.