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[March 2006]
Villeroy & Boch Takes Over Mexican Sanitaryware Producer
The acquisition has been announced, subject to approval under cartel law, by Villeroy & Boch (V&B) of the entire ceramic sanitaryware business of the Mexican industrial group Grupo Industrial Saltillo (GIS).This takeover involves three sanitaryware factories with a capacity of 2.1 million units per annum. Under the brand names Vitromex and St. Thomas Creation, the 950 employees achieve a turnover of around US$60 million a year, roughly 45% of which comes from the US market. V&B and GIS agreed not to disclose the purchase price.
Owing to Villeroy & Boch's strong presence in the tableware sector, the US market is already the company's second most important export market after France. By making this acquisition, the company said it was creating an industrial platform on which its most profitable business segment – Ceramic Sanitaryware – can develop both this strategically important market and the growing markets in Central and South America. The acquisition will not give rise to any adverse effects for employees in Europe, added V&B.
www.villeroy-boch.com
ENDS