Villeroy & Boch announces Mexico takeover
The takeover, the price of which was not announced by the parties, involved three factories (in Saltillo and Lerma) which employ a workforce of 950 people and have a capacity of 2.1 million units/year.
Turnover is about USD 60 million, of which approximately 45% is generated from exports to the United States under the St. Thomas Creation and Eclipse brand names and the remaining 55% derives from the domestic market under the Vitromex brand name.
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 is creating an industrial platform on which its most profitable Business Segment (ceramic sanitaryware) can develop in both this strategically important market and the growing markets in Central and South America.
According to management of the Mettlach-based group, the acquisition will not have any adverse effects for employees in Europe.
According to Wendelin von Boch, "By investing only a reasonable amount here, it will be possible to increase output to 3 million pieces. This will give us leeway to develop the United States market more quickly in the medium-quality segment with the Villeroy & Boch brand and to use this broader basis to market even more Villeroy & Boch imports from Europe".