VIENNA Dec 12 Austrian lighting company
Zumtobel plans to sell a majority stake in a plant in
northern France to French industrial group Active'Invest as it
outsources manufacturing of some products to improve
competitiveness, it said on Monday.
Negotiations were in an "advanced stage" with the sale
hopefully to be finalised in April, a spokesman said.
Zumtobel did not expect to get any money for the French
lighting plant but would book restructuring costs of 15 to 20
million euros ($16-$21 million) related to the divestiture until
the end of its business year in April, he said.
The alternative to the sale would have been to close the
site at Les Andelys, but the cost of closure would have been
much higher, the spokesman said.
Zumtobel agreed to buy lighting from Active'Invest over the
next three years and plans to keep a 10 percent stake in the
plant, the spokesman said.
All jobs at the plant would be maintained.
($1 = 0.9425 euros)
(Reporting by Kirsti Knolle; editing by Charlotte Cooper)