Veka Germany Acquires Full Stake In Hyd’s NCL arm

Hyderabad: Veka AG Germany, uPVC profile systems producer, has acquired full stake in its joint venture NCL Veka Pvt Ltd, a city-based manufacturer of uPVC profiles. The Company has taken over the remaining 50 per cent stake previously held by NCL and other shareholders. Veka now plans to invest up to Rs 100 crore in India over the next six years which will be utilised for R&D, introduction of new products and expansion.

Andreas Hartleif, CEO, Veka AG Germany, said: “With this strategic takeover, Veka Germany has reaffirmed its long-term commitment to India, recognising the country’s potential as a hub for innovation, manufacturing, and market growth.” Hartleif further informed that Veka has set a CAGR target of 15 per cent.

“As India’s economy experiences a robust growth, driven by rapid urbanization, an infrastructure boom, and a growing focus on sustainable housing, Veka is well-positioned to capitalize on the rising demand for uPVC profiles in India,” he added.