Business News
Turkish manufacturer bids for Germany's Rosenthal
Jul 3, 2009, 16:56 GMT
Munich - A Turkish china manufacturer has bid for Rosenthal, a premium German manufacturer of table porcelain, an insolvency administrator said in Munich Friday.
Kutahya Seramik Porselen's bid reportedly trumps that of Italian saucepan and cutlery group Sambonet Paderno.
Rosenthal makes fine porcelain dinner sets which are prized in Germany as wedding presents. Germany's china industry has struggled to pay labour costs at German levels.
The new bid was first revealed by the German and Turkish Business Association in Munich. Kutahya Seramik Porselen is the dominant manufacturer in Turkey.
Two other companies are also reported to be bidding, but have not been publicly identified.
Christoph Moeller, a spokesman for the administrator who took over management at Rosenthal after the insolvency filing, said, 'If this new bid is serious, it would be highly advantageous.'
News reports say Sambonet Paderno has negotiated a contract to buy the business for 19 million euros (27 million dollars) but has not lined up finance yet.
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Older Talkback
page: 1
So what? Will Turks eat Germans? :) Nonsense ... Turks maybe doing better in this ceramics business since they have roots back to several centuries... How many German organisations active in Turkey, do you know? We never understand these people of fearing Turks so much... Turks were together with Germans in World War 1 which never appriciated, but it was clear that it was a huge mistake for Turks than Germans. Also every year Germans retiring in Germany coming Turkey to live permanently .. so we never say ohh Germans coming... This cliche only owned by said European dominant countries ... bla bla bla... have a good day and read the news correclty, as Rosenthal cannot pay German wages of company employees, so have to sell unprofiting firm now...
page: 1
Hans GeldmacherJul 4th, 2009 - 20:10:05
Turks are coming!
First Grundig, now Rosenthal!
Hans
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