MOSCOW (MRC) -- The Sendenhorst, Germany-based Veka Group, a leading extruder of PVC-U profiles for doors and windows, has announced the completion of its acquisition of its competitor Gealan Holding, said the company in its press-release.
Veka said that by acquiring Gealan, a company established in the European market, it is strengthening its position in Germany, Europe and the World.
Veka employs more than 3,600 people at 25 subsidiaries on three continents around the world. The company employs 1,300 at its headquarters in Sendenhorst. Veka reported EUR793m (GBR631m) in turnover in 2013.
With its takeover of Gealan from financial investor Halder, Veka says it will be increasing its staff by 1,150 employees, and is estimating its total annual turnover will reach more than EUR1bn (GBR0.8bn).
As MRC wrote before, Veka Recycling is investing almost Euro 1.2 million (USD1.6 million) in its south-east England facility to produce high-quality recyclate suitable for PVC extruded products. A new compounding line will enable the company to supply European markets with PVC pellets derived from post-industrial or post-consumer window frame material. According to the firm, this is in addition to the existing supply of both pellet and micronised PVC from its German and French factories.
Established in the UK since 2007 and with an annual recycling capacity of 20 000-plus tonnes, the Kent-based company is part of the VEKA Recycling Group, which has processing facilities in three European countries and has more than two decades' recycling experience in producing pelletised material that can be used in new extrusion products, including windows.
MRC