Leading Norwegian group Norsk Hydro (commonly referred to as Hydro) has announced that it has fully acquired Hueck Systems, a global leader in the manufacture of aluminium profile systems for windows, doors and façade applications headquartered in Germany.
A global player in the aluminium and renewable energy sectors, Hydro has a major presence in the region through its key unit Technal.
It is a market leader in the building systems sector creating innovative and durable aluminium solutions designed to inspire contemporary architecture.
Hydro’s Building Systems branch brings together 2800 employees across 29 countries. The group’s various brands have an 18% market share in Europe.
On the Hueck takeover, the Norwegian group said this milestone demonstrates its commitment to the building industry in Europe by teaming up two well established organisations to create value and serve the European customers even better.
However, the UAE-based Hueck Middle East Aluminium System will continue to operate as an independent partner and will be authorised to use the Hueck trademark under an existing licence agreement, said Hydro in its statement.
Through this strategic move, Hydro aims to further boost its sustainability strategy with recycled and circular solutions, it added.
Welcoming Hueck into the Nydro family, Sam Robinson, the Managing Director for Middle East, India and South East Asia, said: "We are deepening our digital approach to support the evolution of the building industry, and we are moving forward in developing new innovative products."
"This takeover allows us to accelerate our growth strategy and presence in Europe as well as leveraging activities outside the region," he noted.
Robinson pointed out that Hueck Middle East Aluminium System is not part of the deal nor has it any relation to the operations of Hydro Building Systems Middle East.
The same applies to Hueck Middle East Aluminium Systems and MJ Metals Egypt in Egypt, and Hueck Middle East Metal Manufacturing, MJ Metals DMCC, MJ Building Materials Trading DMCC in UAE, he added.-TradeArabia News Service