March 19 (SeeNews) - Germany-based ceramic products manufacturer Villeroy & Boch said that it is no longer in talks about a possible acquisition with Belgium-based Ideal Standard International, the parent company of Bulgarian bathroom sanitary ware producer Ideal Standart-Vidima.
"Villeroy & Boch continues to pursue the goal of ensuring sustainable profitable growth for the Group, also through acquisitions. To this end, we will continue to examine options that are in line with our objectives," the company said in a statement on Thursday.
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In February, the CEO of Villeroy & Boch, Frank Goering, said that the company would make a decision for the purchase of Ideal Standard before its shareholders' meeting in March, which was later postponed.
Ideal Standard International has invested over 300 million levs ($182.6 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 at the official opening ceremony of Ideal Standart-Vidima's modernised plant in Sevlievo, in 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)