Schueco International KG Acquires Majority Share in Alufit International Pvt Ltd

Schueco International KG, one of the leading companies in building envelopes worldwide, with global expertise in windows, doors and façades announced it has signed a definitive agreement to acquire a majority stake in Alufit.

BY Realty Plus
Published - Thursday, 09 Sep, 2021

Schueco International KG Acquires Majority Share in Alufit International Pvt Ltd

Schueco International KG, one of the leading companies in building envelopes worldwide, with global expertise in windows, doors and façades announced it has signed a definitive agreement to acquire a majority stake in Alufit. The consequent joint venture, Alufit International Pvt. Ltd, will accelerate Schueco’s focus on pursuing large commercial and infrastructure facade projects in India. The joint venture will witness the coming together of one of the world’s leading aluminium systems specialists in Schueco and India’s largest aluminium façade fabricator. Pankaj Keswani will continue to lead and will be the Managing Director of the JV, Alufit International Pvt. Ltd. Commenting on the announcement, 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. With a keen focus on quality and state of the art manufacturing facilities, Alufit is a perfect partner for us in delivering sustainable solutions to large façade projects in India. We will work towards enabling sustainable buildings of the future that are backed by technologies and systems that focus on people and which are in harmony with nature. We would like to congratulate all the employees of Alufit and Schueco on this partnership. We are confident that this joint venture will mutually benefit both companies and we look forward to an exciting journey together." Pankaj Keswani, Managing Director, Alufit International Pvt. Ltd, added, “This is an important milestone for the entire Alufit family that has worked diligently towards establishing it as India’s go-to façade fabricator. Over the past three plus decades, Alufit has delivered more than 1000 projects of various size, scale and complexity with unwavering quality and professionalism. We are excited to partner with Schueco in offering developers and investors with solutions that will push the boundaries of innovation, service, and raise the bar for building envelops in India.”