BRITISH VICTORIA BECOMES THE SOLE OWNER OF GRANISER

The UK-based flooring products designer, manufacturer, and distributor Victoria PLC will become the sole owner of the ceramic tile company Graniser Ceramics. Victoria PLC will pay EUR 8.4m for Graniser Ceramics and undertake its liability of EUR 39.8m. Thus, the transaction will total EUR 48.2m. The production capacity of Victoria PLC will increase from 52 million square meters to 74 million square meters with the acquisition. Graniser Ceramics, which has over 5,000 different products and an annual production capacity of 22 million square meters, employs 1,100 people. The company also exports to more than 60 countries, notably the U.S., Israel, and Germany. Victoria PLC, which was founded in 1895, is one of the oldest tile, ceramics, and porcelain manufacturers in the world. The company is listed on the London stock exchange. KERIM ULKER