NCL Veka, makers of uPVC (un-plasticised poly vinyl chloride) products for buildings, today announced the commissioning of its new facility here.
A press release said the company, a joint venture between NCL Group and Germany-based Veka AG, would be spending Rs 25 crore on machinery, product enhancements, new showrooms and marketing network.
The investment is in addition to the Rs 50 crore invested in the building of the facility, the release said.
"India is a focus area for us, the growth potential for uPVC windows in this region is expected to far outperform any region around the globe. We are making the required investments in this region to capitalise on this opportunity. Andreas Hartleif, chief executive officer of Veka AG, said in the release.
The expansion plan of Veka AG comes at a time when demand for uPVC products has been increasing with the company currently holding 15 per cent share of the window market, the release said.
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Managing director of NCL Veka Ashven Datla said in the release that the company aims at retaining its leadership in a competitive market using multi-pronged investment in infrastructure, product development and brand development.
NCL Veka has aggressively been growing at 30 per cent on a year-on-year basis and clocked a turnover of Rs 163 crore in the current financial year, the release said.
Veka is a USD 1.2-billion company with manufacturing units in 18 countries, operations in 40 countries while NCL Group is a Rs 1,500-crore building material manufacturer.
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