VEKA Acquires Gealan
March 12, 2014 by VEKA Inc
VEKA Group strengthens its position with takeover of competitor GEALAN (Sendenhorst) VEKA Group from Germany, one of the world's leading producers of PVC-U profile systems for windows and doors, has announced today that they will acquire GEALAN Holding GmbH from the owner, financial investor Halder Beratungsbeteiligung. This deal includes all subsidiaries and activities of GEALAN within Europe. It has been agreed between the parties that all details regarding this deal will be kept strictly confidential. The takeover is still pending approval from the respective authorities.
By acquiring its competitor GEALAN - a company that has been established and well-known on the market for many years and that has recently been relying more heavily on a differentiation strategy - the VEKA Group is strengthening its competitive position in Germany, Europe, and the world. Andreas Hartleif, CEO of the VEKA Group, comments: "As an essential partner for European window manufacturers, we have to face the challenges of the market. That's why we are strengthening our own competitive situation and, by combining our extensive expertise in profile technology, we will tap further market potential and opportunities for turnover. Additionally, we are contributing to the consolidation of the market place."
The family-owned VEKA Group employs more than 3,600 people at 25 subsidiaries on three continents around the world. 1,300 of them work at the company's headquarters in Sendenhorst. The VEKA Group generated $793 million in turnover in 2013. Internationally, more than 2,200 specialized companies use VEKA systems to create top-quality PVC-U structural elements. With its takeover of GEALAN Holding GmbH from financial investor Halder, the Group will be increasing its staff once again, by 1,150 employees, and its total annual turnover will reach more than $1 billion.
Joe Peilert, President and CEO of VEKA Inc. is extremely pleased about this development: "It means that we will soon benefit from the rich, comprehensive experience and profound expertise of both companies in the areas of extrusion, profile technology, and market development." Andreas Hartleif, CEO of the VEKA Group, concludes by stating: "With this takeover, we have once again underscored our strength and our importance to the window industry in Europe. We are consistently working on improving our respective position on a range of different markets."
VEKA is a world leader in PVC extrusion technology with 18 plants worldwide, and is headquartered in Sendenhorst, Germany. VEKA Inc., based in Fombell, Pennsylvania, is corporate headquarters for North America and heads up three manufacturing facilities as well as various product divisions. For more information on VEKA, please visit www.veka.com or www.veka.de for VEKA Worldwide.
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