VIENNA, April 4 Austrian lighting group Zumtobel
said it had no intention of withdrawing from the U.S.
market and wanted to expand its presence there.
"We see the U.S. market as an excellent opportunity to
significantly expand our business, especially with our premium
brand Zumtobel," Chief Executive Ulrich Schumacher said in a
statement on Friday.
"Due to the competitive structures in the already
consolidated U.S. market, we see the best opportunity to pursue
growth in the form of a strategic partnership."
At a capital markets day in Frankfurt on Wednesday,
Schumacher had said Zumtobel had two options for the U.S.
business: shut it down or look for a partner.
(Reporting by Georgina Prodhan; Editing by Anthony Barker)