Orchid Ceramics has announced that after nine years of bringing designers and consumers porcelain and ceramic tile for floors, countertops and walls, the company will be closing its current U.S. operations. With a tentative closure date around July 31, 2011, Orchid Ceramics, Tulsa, OK-based will halt commercialization of its products in the United States.
Orchid Ceramics' parent company, Corona, based in Colombia, South America, says it made the difficult decision to close Orchid Ceramics for “several strategic reasons,” including “competitive challenges in the industry and opportunities available in developing countries, particularly in Colombia, coupled with the macroeconomic situation in the US- 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 to close U.S. operations
May 24, 2011