VEKA strengthens presence in India
Acquisition of remaining shares
The VEKA Group announces the acquisition of the remaining shares in NCL VEKA Pvt. Ltd. This strategic move aims to consolidate its presence in India and drive growth in the Indian market. “VEKA wants to drive market growth while transforming the nation's building materials industry with long-lasting and aesthetically pleasing solutions”, states Andreas Hartleif, CEO of the VEKA Group.
Market leader with strong potential for growth
With the establishment of a joint venture in 2017, VEKA has already demonstrated a strong commitment to a long-term growth strategy in the Indian market. Since then, under the leadership of U.S. Murthy, Managing Director of NCL VEKA, the company has become the largest manufacturer of uPVC profiles for windows and doors in India. With a strong product portfolio tailored to the specific market requirements in India and a revenue of approximately € 50 million, VEKA has maintained its leadership position in the Indian window industry.
According to Ashven Datla, Chairman of NCL VEKA, the company plans to increase production capacity in line with the projected growth. The existing facilities are also expected to serve as export hubs for international markets, creating new sales opportunities outside of India.
Strategic expansion and solutions for the future
Dr Matthias Koch, Head of Strategic Marketing at Laumann Group and Board Member of NCL VEKA, emphasizes: "This step strengthens VEKA's leadership position in both global and Indian markets. Given the strong economic growth, particularly driven by increasing urbanization, VEKA is well-positioned to meet the rising demand for PVC profiles in the future."
Learn more about NCL VEKA on the website:
Press conference on the complete acquisition of NCL VEKA in India (from left: U.S. Murthy, Dr Matthias Koch, Andreas Hartleif and Ashven Datla).
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