Veka, a German PVC profile manufacturer, has acquired Gealan Fenster-Systeme, its competitor on the European market. The acquisition still needs to be approved by regulatory authorities. The financial details of the deal were not disclosed. The acquisition includes Gealan subsidiaries and plants. Gealan produced approximately €28.2m worth of PVC profiles in 2012. Its factory in Bucharest has a production capacity of 15,000 tons per year. Veka, which specializes in local market imports posted a turnover of €16m and €793m in sales last year. Once the transaction is finalized, the company’s annual sales are expected to top €1bn, according to Veka officials.
