Thus, VEKA plans to keep the current structure of Gealan brand, due to the positioning of the two companies on different market segments.
VEKA announced in March the takeover of Gealan, both companies operating on the Romanian market, and is currently pending the authorities’ approval for the acquisition.
VEKA currently has over 3,600 employees in 25 units on three continents and reported a EUR793 million turnover in 2013.
After taking over Gealan from investment fund Halder, the number of VEKA employees will increase by 1,150, while its annual turnover will exceed EUR1 billion.
VEKA sales in Romania, both direct sales and via the Romanian division, increased 7% on the year in 2013, to EUR16 million, while Gealan Romania sales stayed flat on the year.
The two companies are among the major PVC profile providers on the Romanian market.