The VEKA Group from North Rhine-Westphalia has acquired a majority stake in NCL Wintech Ltd., a subsidiary of the Indian NCL Group. The company will continue as a joint venture and operationally independent unit. The VEKA Group, which has been represented by a local subsidiary since 2003, is thus further expanding its established market position in India. The Indian construction industry is booming and together with its new partner VEKA, plans to create new production capacities on site in order to realize its "ambitious growth plans" (Andreas Hartleif, CEO of VEKA AG).
The family-run VEKA Group, headquartered in Sendenhorst near Münster, is the world's leading manufacturer of PVC profile system solutions for windows, doors and roller shutters, with over 5,500 employees at 36 locations and revenues of over 1.0 billion euros.
The publicly listed NCL Group is a leading company in the Indian building materials industry, with aproximately 700 employees and sales of over 100 million euros. NCL's PVC profile business is bundled in NCL Wintech Ltd., the largest manufacturer of PVC profile systems for windows and doors in India.
IMAP India accompanied the shareholders of NCL Wintech during this transaction and was supported by Karl Fesenmeyer and Atanas Petkov from IMAP in Germany.