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VEKA Ukraine could invest some EUR 1.5m in expansion of warehouses in 2011
24 May 2011
VEKA Ukraine Ltd. (Kalynivka, Kyiv region), part of Veka Rus&Ukraine group and a 100% subsidiary of Germany's VEKA AG, plans to invest around EUR 1.5 million in the development of warehouses in 2011, VEKA Ukraine and VEKA Rus Director General Josef Leo Beckhoff has said.

"This year the priority for investment is different - this year we will invest in warehouses. This year investment in warehouses will reach some EUR 1.5 million. In the next two months we'll install two raw materials storage facilities, which will allow us to optimize the operation of our production facilities," he said on May 20 at a press conference devoted to the fifth anniversary of the company's operations in Ukraine.

He said that investment in production expansion in Ukraine is not planned, and it depends on the situation on the market.

"The concrete terms of production expansion depend on the situation on the market. We won't invest in the construction of facilities now, as we have good facilities. The existing premises allow us to produce from 30,000 to 40,000 tonnes of products per year, so the next investment would be into extrusion equipment," he said.

VEKA AG headquartered in Germany has been operating on the market since 1969. The company is one of the largest producers of plastic profiles for windows and doors. The company has 16 production sites in various countries and 22 subsidiaries. The company's products are exported to over 50 countries. Total turnover of companies that are part of VEKA AG came to some EUR 700 million in 2010.

VEKA Ukraine was registered in May 2006 and launched a polyvinylchloride profile plant in Kyiv region.

In 2010 VEKA Ukraine became part of Veka Rus&Ukraine.

Source: InterFax Ukraine

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