TULSA, OK -- Orchid Ceramics has announced that after nine years of bringing designers and consumers innovative and creative porcelain and ceramic tile for floors, countertops and walls, the company will be closing its current U.S. operations. With a tentative closure date of July 31, 2011, the Tulsa, OK-based company will halt commercialization of its products in the U.S.
Orchid Ceramics' parent company, Corona,
based in Colombia, South America, has made the difficult decision to close
Orchid Ceramics for several strategic reasons. Competitive challenges in the
industry and opportunities available in developing countries, particularly in
Colombia, coupled with the macroeconomic situation in the U.S.-- including the
adverse movement of the exchange rate and intense price sensitivity -- has
hindered consolidated profitability for Orchid Ceramics.
"We are disappointed and saddened to be making this announcement,"
said Kurt Graves, CEO of Orchid Ceramics. "We understand with the current
economic situation it is a difficult but strategic decision for Corona to make. We want
to assure our employees, vendors and distributors that this process will be
handled sensitively, respectfully, and with full consideration of their needs."
Orchid Ceramics announces closing of its U.S. operation
May 24, 2011