Schueco International KG, a leading company in building envelopes worldwide, with global expertise in windows, doors and façades, has signed a definitive agreement to acquire a majority stake in façade fabricator Alufit.
The joint venture, Alufit International Pvt. Ltd, will accelerate Schueco’s focus on pursuing large commercial and infrastructure facade projects in India, said a press release. It will witness the coming together of one of the world’s leading aluminium systems specialists and India’s largest aluminium façade fabricator, added the release.
Pankaj Keswani will be the Managing Director of the new JV, it said.
Andreas Engelhardt, CEO and Managing Partner of Schueco International KG, said, “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.”
Keswani said, “This is an important milestone for the entire Alufit family that has worked diligently towards establishing it as India’s go-to façade fabricator.”