Postojna, 10 January (STA) - The Idrija-based industrial conglomerate Kolektor has sold thermoplastic product maker Kolektor Liv to toilet appliance producer Fluidmaster from the US. Kolektor says that the new owner is committed to keeping the production at the current location in Postojna and not making job cuts.
Kolektor opted for a strategic partner to purchase Kolektor Liv as the conglomerate established that it would not be able to meet the ambitious goals of the company in the short run.
Fluidmaster, which is based in San Juan Capistrano, California, and Kolektor will not reveal the details of the deal, Kolektor said in a press release on Friday.
The structure of employees and management of Kolektor Liv, which owns the Liv and Schwab brands, will remain unchanged. "The buyer has been selected on the basis of its vision of further development and preservation of jobs," said Kolektor executive director Radovan Bolko said at today's signing of the deal.
Fluidmaster boss Todd Talbot added that Postojna was an interesting basis for expansion in Europe, noting that the products of Fluidmaster, Liv and Schwab are very complementary.
Kolektor Liv is a leading European producer of sanitary equipment, which is sold in more than 30 countries and Europe and Middle East. Its revenues represent around 5% of Kolektor's global turnover.