Veka's Official Announcement Of Bowater Takeover

VEKA Plc has announced the acquisition of Bowater Building Products in a move which will further strengthen VEKA’s market position within the UK industry during its 25th anniversary year of manufacturing in the UK.


Dave Jones, VEKA Managing Director commented: “VEKA is pleased to announce the acquisition of Bowater Building Products. As many of us in the industry are aware, the current market is extremely difficult, yet VEKA has continued to invest in its systems, people and plant and is now in the position to demonstrate further commitment to the UK market with this acquisition. We have undertaken a thorough review of potential acquisitions and have selected Bowater Building Products due to its obvious synergies with the VEKA brand in terms of product quality and positioning. During the review we also found that the ethos of the 2 companies is very similar as is the way they are run which should make way for synergies as we align the 2 brands. This exciting news comes as we celebrate our 25th anniversary of manufacturing here in the UK. We are aware that there are rumours about the stability of many of our competitors right now and want customers of both the VEKA and WHS Halo brands to feel reassured that they are partnered with a systems company whose roots are firmly planted in the UK. Not only can we offer customers the stability of buying from a company which is still family owned, but our acquisition of Bowater Building Products sends out a clear message to the market that VEKA and WHS Halo are here to stay within the UK and we will continue to invest in the future for ourselves and customers of both brands.”


The VEKA brand is revered for its technical superiority and the quality of the profiles, backed up with a whole host of additional benefits such as the diversity of the systems, the technical support available for fabricators and the strong link to recycling, which is more relevant than ever. Users of VEKA systems also have exclusive access to Network VEKA, the elite trade organisation that promotes members direct to end users and offers protection to homeowners via a series of guarantees. Since its inception 15 years ago, many organisations have tried – but failed – to copy its winning formula to help members build their businesses and offer peace of mind to the consumer.


WHS Halo is also held within similar high esteem as one of the prestige profile manufacturers in the UK. Both brands have spent considerable time and money investing in the technical performance and development of the product range and this will continue following the acquisition.


Customers of each brand will continue on their current system and the teams at both VEKA and WHS Halo have worked hard ahead of the acquisition to ensure they will continue to offer a compelling product and service package throughout the process and beyond. Working in partnership with fabricators is part of the ethos of both VEKA and WHS Halo and this will continue for users of each brand.


A comprehensive strategic review will take place over the next few months of the facilities at the VEKA and Bowater Building Products sites. The acquisition of Bowater Building Products is the result of a thorough market review by VEKA and is a long term investment for the company – as such, any decisions taken will be carefully considered to ensure they are the best option for the long term future of the VEKA and WHS Halo brands. For both VEKA and WHS Halo it will be ‘business as usual’ during the review process.


Dave Jones concluded: “The worldwide VEKA Group has always placed great importance on the plant here in the UK as one of its key markets. Over the last 25 years VEKA plc has developed its range of products and services to offer a compelling customer offer and many of the industry’s key milestones have been ours. Whilst we are immensely proud of our 25 year manufacturing heritage in the UK, we will not rest on our laurels and believe that continuing to look to the future is key to our ongoing success. The acquisition of Bowater Building Products and the highly esteemed WHS Halo brand demonstrates our long term commitment to manufacturing and continuing to invest in the UK. We believe this is fantastic news for customers of both brands and indeed for the industry as a whole as there are now 2 clear choices for fabricators, installers, specifiers etc wishing to partner with a secure, stable profile manufacturer.”

Notes

• The acquisition of Bowater Building Products by VEKA demonstrates VEKA’s clear commitment to the UK market during difficult trading conditions and reconfirms the stability of the VEKA brand.
• VEKA will emerge as a stronger player within the industry and also as a stronger partner to UK fabricators of both VEKA and Bowater products.
• Each brand will continue trade under their current brand names and will retain their own brand identities and product ranges.
• As per our heritage of the last 25 years, VEKA will continue to focus on continuous product development and customer service excellence and expects no disruption to customer service levels during or following the acquisition.
• During VEKA’s 25thAnniversary of manufacturing in the UK, Network VEKA, the first scheme of its type in the industry is also celebrating its 15 year anniversary.