Germany's Schueco buys 75% stake in aluminium facade fabricator Alufit

Bielefeld, Germany-based building products maker Schueco International KG has acquired a 75% stake in Bengaluru-based aluminium facade maker Alufit India Pvt Ltd. Both companies are privately owned family businesses. The new outfit, called Alufit International Pvt Ltd, will be headed by Pankaj Keswani as MD. The 70-year-old Schueco is the world's leading aluminium systems specialist and has been operating in India for 10 years, while 37-year-old Alufit is a large aluminium facade fabricator with a turnover of INR 500 crore.