We are pleased to announce the 70% stock acquisition of Mystair Hygiene Care Pvt Ltd. (hereinafter “Mystair”), which manufactures and sells hygiene-related products in India on July 6, 2020. The company name will be changed to "Saraya Mystair Hygiene Care Pvt Ltd." (hereinafter "Saraya Mystair") and we aim to strengthen the supply of hygiene-related products utilizing Japanese technology in the Indian domestic market.
Mystair is headquartered in the Gurgaon area near New Delhi, the country’s capital, and has eight sales offices in eight major cities in India with three manufacturing bases. The main factory produces detergents while their paper mill manufactures paper products such as toilet paper. It is one of the leading Indian companies in hygiene-related products whose main customers are airports, airlines, railway companies, and hospital chains.
The current COVID 19 has dramatically increased awareness of hygiene and hand sanitization in India, and the acquisition of Mystair Co. could maximize the synergistic effect of the hygiene product manufacturing and sales network cultivated by the company and Saraya's R&D capabilities. In order to further develop our business in India, which is rapidly expanding in the global market, we came to agree with Mystair Co., Ltd. of the acquisition to jointly make further progress in the sanitation business.
“Mystair will provide an exciting platform to tap into the rapidly developing Indian market with growing awareness of health and hygiene,” said Yusuke Saraya, President and CEO. “By contributing to the Indian market with our technical capabilities, we will focus on local penetration of the Saraya brand.”
With the aim of expanding business in the Indian region, we will strive to improve the sanitary environment in India through our products and services.