JAPAN'S LIXIL BUYS 70% STAKE IN STAR ALUBUILD FROM DLF UNITS

     (The following press release from Lixil Group was received by e-mail. The 
sender verified the statement.) 
For Immediate Release
October 8, 2013 
LIXIL Corporation
StarAlubuild
Private Limited 
LIXIL- Japan’s Largest Building
Products Company, Enhances Focus on the Indian Market
Acquires majority stake in Star
Alubuild from DLF to further grow the Indian building products market 
TOKYO/
NEW DELHI,October8,2013–LIXIL Corporation
(Headquarters: Tokyo, Japan; Presidentand CEOYoshiaki Fujimori),today
announced
that ithasacquired a controlling 70%stake in
StarAlubuild Private Limited (hereinafter “Star Alubuild”) based in
DelhiNCR, India,from subsidiaries of DLF Ltd,
India'slargestreal estate company,majority
shareholderandRomi Malhotra, the founderof Star
Alubuild.With this acquisition, valuing Star Alubuild atINR 798m
enterprise value,LIXIL hasmade itsfirst major investment in
therapidlygrowing building materials market of India. 
Star
Alubuild is a leadingIndian curtain wall company,
executing projects all over India. It specializes in
thedesigning, engineering, fabrication and installation of curtain walls for
commercial buildings, retail malls and doors & windows for projects 
throughoutIndia. Since 2003,
the company has been involved in projects in Delhi, Mumbai, Chennai and other 
metro
cities, thereby creating a high quality customer base which includes DLF, IREO,
Oberoi and Larsen & Toubro, amongst others. 
LIXIL,
the largest housing and building materials company in Japan with
leadership across eight market categories, is actively building up its
manufacturing and marketing capabilities around the world to achieve faster
growth. As per its Medium-term Management Visionis targeting sales
of JPY 1 trillion annually from its global operations., it
assigns top priority to developing the Indian market due to the country's rapid
and enormous potential for growth. Through thisacquisition, LIXIL
will acquire an established network for the manufacturing and marketing of 
aluminum
sash. In conjunction with its existing sanitary ware brand American Standard,
this will further accelerate LIXIL's foray into the Indian market. This
transaction seamlessly follows the successful acquisition of American Standard
Asia Pacific in 2009, Permasteelisa in Italy in 2011, American Standard Brands 
in the USA in August 2013,
and subject to applicable competition authorities approval, Germany's GROHE 
Group. 
Bill Crichton, COO of LIXIL ASEAN PTE.LTD., said “ I see this strategic 
acquisition as the first step
to developing India's first national aluminium curtain wall and window sash
supplier with full capabilities to design, fabricate and install for India's
leading developers at a national level. Our aim is to work closely with
architects, building designers and developers, to understand their
requirements, and then design and build the best quality products using our
global expertise, at a very competitive price for the Indian market.”  
DLF,
after providing key anchor support to Star Alubuild in its initial growth
phase, has decided to exit its investment in Star Alubuild as part of its
ongoing non-core divestment strategy.  
Saurabh
Chawla, Executive Director, DLF, commented“We have had a very
fruitful relationship with Star Alubuild and wish the company
the very best for its next phase of growth. A global player like LIXILacquiring 
a controlling stake in Star Alubuild demonstrates the confidence in
the Indian real estate sector and ancillary industry. We would be delighted to
continue our business relationship with Star Alubuild under its new ownership” 
Highlights of Star
Alubuild’s Acquisition
· Acquiring
Company: LIXIL ASEAN PTE. LTD. (LIXIL’s wholly-owned subsidiary
based in Singapore)
LIXIL ASEAN PTE.
LTD. acquired controlling stake of 70% from subsidiaries of DLF Ltd and 
Star Alubuild founder, Romi
Malhotra
· Share
Purchase Agreement Concluded: April 25, 2013
· Management after acquisition: Star Alubuild will
continue to be led by its founder and current president, Romi Malhotra. 
· Financial
Advisor to LIXIL: PricewaterhouseCoopers Private Ltd
· Financial
Advisor to DLF: Ernst & Young Private Ltd 
About Star Alubuild
Established in 2003, Star Alubuild is one of India’s leading
façade design, fabrication and installation service companies, focusing
primarily on doors and windows, simple curtain walls and solid surface façades
for interiors and exteriors. Led by founder and president, Romi Malhotra, it has
serviced an array of projects, ranging from residential to infrastructure, as
well as from economy to premium segments, with key clients including DLF, IREO,
Oberoi and Larsen & Toubro. Star Alubuild has a 150,
000-square-feet fabrication facilityin Gurgaon just
outside Delhi and an additional undeveloped 2.4 acres of land in Chennai as a 
hub for
southern expansion.  
Registered
Name : Star Alubuild
Private Limited
President : RomiMalhotra
Head
Office  : 75, Sector 8, Phase
IV, IMT Manesar, Gurgaon, Haryana, India (includes
factory)
Established  : February 11, 2003
Number
of Shares : 2,281,755 shares
(with par value of 10 rupees)
Employees : Approx. 517
Sales : INR1,003 million(FY2012 actuals) 
About LIXIL
Corporation
Led
by President and CEO Yoshiaki Fujimori, LIXIL Group Corporation (TSE Code:
5938) is a listed holding company posting JPY 1.4 trillion in
consolidated sales in FY2012(FY ended March 2013.)The Group engages in a broad 
spectrum of housing businesses, ranging from the
manufacture and sales of building materials and housing equipment to the
operation of home centers and a network of homebuilding franchises.  
LIXIL
Corporation, a subsidiary of LIXIL Group Corporation,is the largest
housing and building materials company in Japan with a vast and unique
business portfolio. It is a leader in eight market categories, with a 55% share
in exteriors, 50% share in housing sashes and doors, 50% share in curtain walls
and 40% share in sanitary wares, as well
as a well-known brand in tiles, washstand cabinet units, and bathroom and
kitchen units. 
LIXIL
has been active in strategic acquisitions and partnerships in order to fortify
and accelerate its growth in foreign markets. It currently operates in more
than 30 countries through premium brands offered over a broad product lineup
and services. Permasteelia, Gartner and Shanghai Meite, for example, spearhead
the project business (building materials and curtain walls), while LIXIL,
American Standard Asia Pacific, Inax and Tostem are major players featuring an
impressive brand portfolio that includes kitchen units, bathroom fixtures, 
windows
and doors.  
Over
the past four months, LIXIL has concluded to acquire
American Standard Brands, a USA-based kitchen and bath
products maker
as well as an agreement to acquire GROHE Group, Europe's leading
single-brand manufacturer of sanitary fittings, in a move to strengthen LIXIL’s
global presence even further. 
For more information
about LIXIL, please visit http://global.lixil.co.jp/ 
Contact: 
Miyuki Otomo
LIXIL Corporation-Global Company, PR Team
Global-pr@lixil.co.jp 
India Contact:
Deebba Ali / Niraj Sharma
I:Connect Enterprise
+91 9810509973 / +91 9810093472
deebba@iconnectenterprise.com / niraj@iconnectenterprise.com