This is an official statement from VEKA Plc on the administration of the UK Windows And Doors Group:
Last week, we were made aware that the current owners/backers of UK Windows and Doors Group (UKWDG) were not prepared to continue to provide funding and, as such, should a buyer not be found, that administration was likely. During this time, we have successfully acted to minimise our exposure and continue to do so. Unfortunately, we deemed it necessary to serve notice of termination of our supply agreement on 25th September 2023.
We considered and planned for various outcomes when taking on this business, with the current situation being one of those. That prudence means we have gained significant sustainable market share even without the UKWDG business. We have strengthened our position in the market. This was one of our major objectives throughout.
As the sector continues to face some headwinds we continue to grow, build our reputation for high quality innovative products and services, and invest in the future of our business, supporting the longer-term health of the fenestration industry. We remain the PVCu systems house with window and door extrusions at the core of our business locally and globally. We are not involved in products, or routes to market, that compete with our customers. Simply, if you are a fabricator of window and door systems and need absolute confidence that your systems house is in it for the long term with your best business interests at heart, then VEKA is the answer.
Much has been said about VEKA in recent times. We are happy with the new partnerships we have secured and the opportunities that our current customers are now presented with to provide UKWDG customers with reliable supply of the vast range of VEKA products. Also, where there are viable businesses formed from this administration, by new owners/investors, then of course we are open to those opportunities.
We will end 2023 strongly and head into 2024 with our operational and financial foundations better than ever.
Read more: https://www.doubleglazingblogger.com/2023/10/uk-windows-and-doors-group-falls-into-administration/
See the statement from VEKA on X: https://x.com/VEKA_plc/status/1709146311608459740?s=20
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