Global building products manufacturer Schueco International KG has entered into an agreement to acquire a majority stake in facade fabricator Alufit. The company is aiming to achieve annual revenue worth Rs 1,000 crore from India operations.
The joint venture, Alufit International Pvt. Ltd, is expected to accelerate Schueco’s focus on pursuing large commercial and infrastructure facade projects in India.
Schueco International KG, is based out of Bielefeld, Germany and Alufit is one of India’s largest facade fabricators with manufacturing facilities in Bengaluru, Hosur and Mumbai.
Schueco International KG, is based out of Bielefeld, Germany and Alufit is one of India’s largest facade fabricators with manufacturing facilities in Bengaluru, Hosur and Mumbai.
“India is one of the most active markets for commercial and infrastructure development in the world. As such, it is naturally a key market for Schueco as we aim to grow our presence in international markets. Our joint venture with Alufit gives us a strong platform to scale our growth in India,” said Andreas Engelhardt, CEO and Managing Partner of Schueco International KG.
Pankaj Keswani will continue to lead and will be the Managing Director of the JV, Alufit International.
Source: https://bit.ly/38RRPzy
