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Ideal Standard International Unites Bulgarian Affiliates The two affiliates of Ideal Standard International that operate in the Bulgarian town of Sevlievo will be united in one company, officials have announced.
Despite the change, the production process in the two factories, Ideal Standard Bulgaria and Ideal Standard Vidima, will continue as before.
The merging is expected to be finalized by December 31, 2010.
Officials have announced that the reason behind the decision was to simplify the legal structure of Ideal Standard International in the countries where such procedure was possible.
At the moment, Ideal Standard Bulgaria is producing ceramic sanitary fixtures and Ideal Standard Vidima has specialized in producing bathroom sanitary ware, fittings and accessories.
The united company will operate under the name "Ideal Standard Vidima." It will keep the production of the two affiliates and will also carry out the sales and distributions of bathroom solutions in Bulgaria and other European countries.
The management of "Ideal Standard Vidima" will be taken up by a board of directors, whose head will be Vasil Kanev. He will remain at his position as vice president of Ideal Standard International for Eastern Europe and will also be the CEO of the united company in Bulgaria.
The current CEOs of the two branches, Krasimir Kopchev and Valentin Ganev, will become members of the board of directors and will have representative power in their respective areas of management.
Officials have announced that the merging of the two branches will strengthen the company's position on the market as one of the large Bulgarian employers with more than 3,200 employees.
Tags: Ideal Standard International, Ideal Standard Vidima, Ideal Standard Bulgaria, Ideal Standard - Vidima, Sevlievo
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