November 7, 2017 by VEKA Inc
The VEKA Group has acquired a major stake of NCL Wintech, a subsidiary of India based NCL Group. By acquiring the shares, VEKA Group – present in India through its subsidiary VEKA India since 2003 – strengthens its well-established market position. NCL and VEKA will jointly shape the future success of NCL Wintech. VEKA India and NCL Wintech will continue to operate independently.
“India’s construction sector will continue to grow over the next 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”, Mr. Hartleif, CEO of VEKA Group, said. “We have set ambitious goals for our alliance with NCL: we seek to optimize our product portfolio and set-up a new state-of-the-art facility in Hyderabad in 2018.”
VEKA Group is the global market leader in uPVC profile systems for windows and doors. Headquartered in Germany, it has 36 representative offices across 3 continents with over 5,500 employees worldwide.
The NCL Group is a leading building materials company. NCL Wintech, promoted by the NCL Group, is a market leader in uPVC profiles in India.