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Germany's Villeroy & Boch mulls buy of Bulgaria's Ideal Standard-Vidima owner

Germany's Villeroy & Boch mulls buy of Bulgaria's Ideal Standard-Vidima owner Photo: Ideal Standard - Vidima / All rights reserved.

SOFIA (Bulgaria), January 23 (SeeNews) - Germany-based ceramic products manufacturer Villeroy & Boch said on Thursday it is considering an acquisition of Belgium-based Ideal Standard International, the parent company of Bulgarian bathroom sanitary ware producer Ideal Standard-Vidima.

The evaluation is still at an early stage, as the company's corporate bodies have not taken any binding decisions on whether to make the acquisition, nor on any economic parameters, Villeroy & Boch said in a statement.

"It is therefore also possible that the Villeroy & Boch AG will not further pursue the project or that an acquisition be effected for any other reasons," the company noted. 

Ideal Standart International has invested over 300 million levs ($169.8 million/ 153.4 million euro) in Ideal Standard-Vidima since 1992. The group has created over 3,200 jobs in Bulgaria, Torsten Turling, CEO of Ideal Standard International, said in November of last year at the official opening ceremony of Ideal Standard-Vidima's modernised plant in Sevlievo, central Bulgaria. 

The Ideal Standard group has representative offices in Romania and Serbia. The group also operates in Croatia, Albania, Kosovo, Bosnia and  Slovenia. 

(1 euro = 1.95583 levs)

 

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