Borosil Glass acquires Hopewell Tableware

Borosil Glass Works Ltd has entered into an agreement to buy the Jaipur (Rajasthan) based Hopewell Tableware Private Limited, a closely held non-listed company that manufactures tableware and dinnerware products made of opal glassware, for Rs 27 crore. Opalglass is a special treated glass with impurities making it look white in colour due to diffusion of light. Hopewell also manufactures tableware of melamine, which is a thermostat plastic dishware. With this, Hopewell Tableware will become a wholly owned subsidiary of Borosil.
 
"There is a limited scope of augmenting the company's marketshare in its traditional product range. Hence, as a part of the company's growth strategy, it has been decided to enter into the opal dinnerware business," said Borosil Glass in a BSE filing on January 14, 2016.
   
Opal dinnerware is complementary to product range of Borosil Glass, which already markets tableware products made of melamine. Borosil, with its experience in manufacturing and running glass furnaces, will bring in efficiencies in costs and enhance profitability. With this, Borosil will be able to enhance the capacity utilisation in the Hopewell Tableware plant, located in Jaipur, and boost sales. As a part of transaction, Borosil will also infuse Rs 10 crore in Hopewell Tableware.