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[April 2008]
Villeroy & Boch Takes Over Thai Sanitaryware Producer
Villeroy & Boch AG (Mettlach, Germany) is taking over an 80% interest in the Thai sanitaryware producer Nahm Sanitaryware Co Ltd, which is situated in Bangkok. Closing of the agreement is dependent on the approval of the Thai Board of Investment.
Villeroy & Boch said that this acquisition was a resolute step forward in the company’s internationalisation strategy. Approximately 80% of V&B sales are already being made outside Germany. The objective in purchasing Nahm Sanitaryware is to create a platform in Asian-Pacific countries in order to be in a position to develop the sales potential in the region more intensely. This local presence allows a prompt response to changes in the dynamic Asian markets, added the company.
V&B will continue to use the ‘nahm’ brand in Asia. Moreover, a selection of the sanitaryware collections and ranges for special projects with the Villeroy & Boch brand will be produced in the Thai factory for the Asian market and for Australia.
Thailand is an attractive destination for expansion, especially on account of its reputation as a production location for quality goods and of free access to the South-East Asian markets (ASEAN). Nahm Sanitaryware is positioned in the medium to high quality goods sector. The company employs a workforce of around 800. In 2007 it achieved sales totalling €10 million with an annual capacity of 500,000 units.
www.villeroy-boch.com
ENDS