The consolidation in the European plastic profile systems market is continuing apace, with Veka (Sendenhorst / Germany; www.veka.de) reporting that it is acquiring its competitor, Gealan Holding (Oberkotzau / Germany; www.gealan.de), including all its subsidiaries and plants, from holding company Halder. Financial details of the transaction, which still has to meet the necessary regulatory approval, were not disclosed.

With the acquisition of the established and well-known profile manufacturer Gealan, Veka continues to strengthen its market position not just in Germany, but also in Europe and beyond. Commenting on the purchase, Veka chairman Andreas Hartleif said that as an important partner of European window manufacturers, Veka had to meet the market’s challenges, adding that this is precisely why the company is strengthening its competitive position and merging the two groups’ comprehensive know-how in the window segment with a view towards both a higher market share and greater sales levels.

A family-owned company, Veka employs more than 3,600 workers at its 25 subsidiaries spread across three continents. About 1,300 employees work at group headquarters in Sendenhorst. The profile manufacturer posted sales of EUR 793m in 2013. Once Gealan’s 1,150 employees join Veka, total group sales will exceed EUR 1 bn, the company said. That means that when the deal receives the official blessing, Veka will be ahead of its leading European competitors profine (Troisdorf / Germany; www.profine-group.de) and Deceuninck (Hooglede-Gits / Belgium; www.deceuninck.com), which last posted sales of around EUR 700m and EUR 540m – see Plasteurope.com of 03.03.2014) respectively.