Deceuninck becomes No.1 in Europe’s second largest PVC-U window market
9th September 2014

Deceuninck last week announced the acquisition of the leading Turkish PVC-U window profile producer, Pimas.

As the pioneer of PVC-U windows in Turkey, Pimas operates under the brand “Pimapen”. Pimapen is the most recognised quality window brand in Turkey and is distributed through a network of 1,200 outlets throughout Turkey, with a major focus on the Istanbul and Ankara area. It is complementary to the existing Deceuninck customer base.

With production near Istanbul, Turkey and in Rostov-on-Don in Russia, Pimas has annual sales of €60 million and employs 484 people. The acquisition is subject to clearance by competition authorities in Turkey and Russia.

The acquisition strengthens Deceuninck’s position as market leader in the premium window sector. Since pioneering PVC-U windows in 1982, Pimapen has become synonymous for PVC-U windows in Turkey and is now the most recognised window brand in the country. With existing brands ‘Egepen/Deceuninck’ and ‘Winsa’, Deceuninck now has the top three premium PVC-U window brands in Turkey. Deceuninck will now have three factories in Turkey: one near Izmir for Egepen-Deceuninck (which will be replaced by a new factory with a significant increase in capacity), and two near Istanbul (Winsa and Pimapen).

The Turkish PVC-U window market is three times the size of Germany and France.

Tom Debusschere, Deceuninck CEO, commented: “Today we announced the acquisition of Pimas, the ground-breaking window systems company in Turkey, with operations in Russia.

“Since Deceuninck entered Turkey, our sales and profits have grown steadily in this exciting and dynamic market.
“The acquisition of Pimas, with its pioneering brand ‘Pimapen’, the most recognised name for windows in Turkey, is a great opportunity for Deceuninck. It makes Deceuninck the number one brand in Europe’s second largest PVC-U window market and adds perfectly to our business in Russia, Europe’s largest PVC-U window market.

“Since opening the first Deceuninck factory in the Moscow area 10 years ago, we have grown steadily and increased our market share with high insulating window systems. We are now adding ‘Enwin’ as a complementary window brand to our product range, and acquiring a modern, low cost production facility in South Russia. This will further strengthen our position in this highly competitive market, which has significant growth potential in new construction and renovation.”

Deceuninck has raised €50 million of new shares to finance this growth strategy. Part of the additional finance is being used for the acquisition of Pimas, and to grow Deceuninck’s business in continental Europe, a mature market, by maintaining margins through innovative high value products and investing in factories to increase productivity.

The other strand of Deceuninck’s growth strategy is to increase capacity and productivity in the UK, USA, Turkey and emerging markets. Deceuninck has reinforced its commitment to the UK by re-opening an existing warehouse to hold higher stock levels and improve lead times.

www.deceuninck.com


Picture caption: Tom Debusschere Deceuninck CEO making a presentation at this year’s FiT Show.