With the acquisition of a majority stake in Alufit, India's leading facade manufacturer, Schüco, Bielefeld, is expanding in the Indian market.
Schüco 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 Schüco’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 Schüco and India’s largest aluminium façade fabricator.
Acquisition of majority stake brings two major partners together
This joint venture brings together Schüco, one of the world's leading specialists for aluminium systems, and India's largest aluminium facade manufacturer. The aim is to achieve annual sales of 100 m EUR with the business in India. The Schüco Group, headquartered in Bielefeld, Germany, develops and sells system solutions for windows, doors and facades and employs 5,650 people worldwide. Alufit, headquartered in Bangalore, is now India's leading façade manufacturer with over 1,500 employees. The company specializes in the execution of complex, large commercial and infrastructure projects throughout the country.
India is key market for Schüco
Commenting on the announcement, Andreas Engelhardt, CEO and Managing Partner of Schüco 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 Schüco 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 Schüco on this partnership. We are confident that this joint venture will mutually benefit both companies and we look forward to an exciting journey together."
Important milestone for the entire Alufit family
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 Schüco in offering developers and investors with solutions that will push the boundaries of innovation, service, and raise the bar for building envelops in India.”
Founded in 1984, Alufit has witnessed and played an integral role in evolving India’s skyline. The company has grown sustainably and earned its employees as well as customers trust. Alufit has transformed from its humble origins as an eight-member team to being a revered company for executing challenging projects from office complexes to IT parks to airports. With three state-of-the-art manufacturing facilities strategically located in Bengaluru, Hosur, and Mumbai, the company has completed landmark projects including hospitality, World Trade Centers, IT parks and ITES campuses across the length and breadth of the country for developers, corporates and financial institutions.