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[July 2009]
Sambonet Paderno Buys Rosenthal
The Italian cutlery manufacturer Sambonet Paderno Industrie SpA has bought the German porcelain manufacturer Rosenthal, the German company's bankruptcy administrator has reported.
Rosenthal had filed for bankruptcy protection at the beginning of this year, shortly after a similar move by majority shareholder Waterford Wedgwood PLC.
The bankruptcy administrator for the Selb company, Volker Boehm, gave no details of the price paid by Sambonet.
It has been reported that the Italian company wants to maintain all of Rosenthal's production sites and also make significant investments in the company over the coming years.
In 2008, Rosenthal employed 1,746 people worldwide and turned over €163 million. Employment levels are thought to have subsequently dropped to around 1,200 and 300 people were laid off during the bankruptcy process.
Rosenthal had been an independent company within Waterford Wedgwood Holding. Turkey's Kütahya Porselen had made an earlier offer for Rosenthal at the beginning of July.
ENDS