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[April 2007]
Villeroy & Boch Completes Sale of 51% of V&B Fliesen to Eczacibasi
The negotiations between Villeroy & Boch and the Eczacibasi Group, which were announced in December 2006, have been concluded. The Turkish group will acquire 51% of V&B Fliesen GmbH. Villeroy & Boch will maintain a 49% share of V&B Fliesen. The property and buildings at the two factories will remain in the possession of Villeroy & Boch AG. In addition, it has been announced that the almost 1,000 jobs at V&B Fliesen are to be maintained.
V&B Fliesen, located at the factories in Merzig/Saar (Germany) and La Ferté Gaucher (France), achieved sales of €149 million in 2006 with more than 10 million square metres of wall and floor tiles. A licensing agreement ensures the future existence of the 'House of Villeroy & Boch' integral product range.
The production plants in Germany and France will be continued. The company's head office and the administration of V&B Fliesen will remain in Merzig. Peter von der Lippe, who is currently Director of Tile Activities, will also continue as director of V&B Fliesen. Closing is expected on 30 June 2007.
Eczacibasi is a highly competitive industrial group achieving overall sales of US$2.8 billion. The new association formed by the Eczacibasi tile division and V&B Fliesen GmbH will have a total tile output of 35 million m². This will clearly improve competitiveness in the global markets.
Initiated in 1998, restructuring of Villeroy & Boch AG led to a strengthening and modernisation of the two Divisions Bathroom and Wellness, and Tableware. The company said it would continue to promote development and globalisation of these two profitable sectors to ensure continuation of the positive growth trend.
www.villeroy-boch.com
ENDS