VEKA Group, the largest extruder of uPVC profile systems for windows and doors in the world, is expanding its presence in the Indian window market, the company announced on 7 Nov.
VEKA has entered into a strategic alliance with NCL Wintech, a subsidiary of India based NCL Group established in 2008 near Hyderabad, India, as a joint venture with Adopen of Turkey. VEKA has also acquired a major stake in the company, a market leader in uPVC profiles in India.
A family-owned business founded in 1969 in Germany, VEKA Group rapidly grew and expanded both in Europe and in North America.
Today, the group operates 18 manufacturing facilities in 14 countries on 4 continents, including in India, through its subsidiary VEKA. The company issued a statement saying that VEKA India and NCL Wintech will, however, continue to operate independently.
According to Andreas Hartleif, CEO of the VEKA Group, India’s construction sector will continue to grow over the coming years.
“uPVC will benefit from that development over-proportionally. With VEKA India and the newly established partnership, we have laid the foundation to further diversify and optimize our product- and service-portfolio in order to meet the future market needs in India”, he explained. Over the past decade, the industry has been growing at a compounded annual growth rate of 30%,
The company said it is planning, among other things, the construction of a new state-of-the-art facility next year. The new plant will reportedly have an annual capacity of 12,000 tons and be located in the Medak district of Telangana, India.