The Norwegian Cruise Line Holdings Ltd. (NCL Group) has made it to the headlines this week for its announcement of having joined forces with a pivotal Germany based firm – the VEKA AG Group. Incidentally, the Hyderabad-based arm of the Miami headquartered cruise ship operator has signed a rather strategic collaborative agreement with the Sendenhorst headquartered doors market player specializing in the production of uPVC profiles for building components. NCL Group has reportedly signed the deal to fulfill its intention of setting up a high-grade, state-of-the-art uPVC facility near Hyderabad, worth around INR 45 crore, which experts proclaim is a significant move by the company to consolidate its presence across India doors industry.
As per sources, this partnership is expected to enable NCL Wintech, a subsidiary of the NCL Group, penetrate the uPVC domain, and tap into VEKA’s exceptional technical expertise to further diversify its product offering. The Chief Executive Officer of the VEKA Group, Andreas Hartleif, has reportedly stated that this facility would be operational by the end of Q2 2018 in the Medak district, Telangana, with a planned capacity of close to 12,000 tons per annum. He has also been quoted claiming that this 50:50 joint venture would be providing a lucrative opportunity for both the firms – while NCL’s industry scope would help VEKA further its market reach, the NCL Group would be able to leverage synergies from VEKA’s extensive tech prowess.
For the record, VEKA AG Group, based in Germany, has a considerably strong presence not merely on the home turf, but also across global doors market. Reports state that the company spans three continents and is one of largest developers of uPVC profile systems for doors and windows. NCL’s tie up with VEKA is thus likely to aid the former strengthen its stance in doors market, cite experts.