Ideal Standard Completes Merger of Bulgarian Subsidiaries
The two affiliates of Ideal Standard International that operate in the Bulgarian town of Sevlievo were formally merged in one company, officials have announced.
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Ideal Standard Vidima announced over the weekend they were planning to discharge an additional 153 workers due to the reduced production volume.
40 job positions in the factory located in the town of Sevlievo will be cut in the summer - July and August while the remaining 113 will be terminated in October.
Currently 662 workers from the company work shorter days with a salary of only BGN 120 per month.
Ideal Standard Bulgaria is part of Ideal Standard International, which was created after the Bain Capital investment fund purchased the global "Bathroom and Kitchens" business from American Standard.
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