Zumtobel CEO says has not yet found U.S. partner
VIENNA, June 25
VIENNA, June 25 (Reuters) - Austrian lighting group Zumtobel has not yet found the right partner for its loss-making U.S. business, Chief Executive Ulrich Schumacher told Reuters on Wednesday.
"The market is big and it's not growing very fast. We need a long-term solution. We are taking great care with the search for a partner. We don't want to embark on a part-time friendship but rather a kind of marriage," he said in a telephone interview.
Schumacher said Zumtobel was continuing apace with restructuring its U.S. operations, which account for about 3 percent of its sales, and expected them to reach the break-even point during the course of this fiscal year to end-April 2015.
He reiterated that Zumtobel had no plans to withdraw from the U.S. market. (Reporting by Georgina Prodhan and Angelika Gruber)
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