January 12, 2012- Brazilian producers of ceramic tile, ELIANE S/A and PORTOBELLO S/A, have entered into an agreement to merge. The agreement was signed by CEOs Edson Gaidzinski, Jr. of ELIANE and Cesar Gomes, Jr. of PORTOBELLO on December 24th.

The ultimate transaction will result in a firm with over 4,000 employees and $650 million US in sales, making it one of the top five worldwide producers in revenue, and combined market their products globally in over 70 countries. The merger is expected to be finalized during the first quarter of 2012.

While the merged company will have a new corporate name, the PORTOBELLO and ELIANE brands will continue operating independently under the new corporation, and no major changes are anticipated for the marketing, distribution or manufacturing of either brand.

For more information:
Ron Treister | Communicators International, Inc. | rlt@communicatorsintl.com | 207 828 8050 x102