VIENNA (Reuters) - Austrian lighting group Zumtobel
"We see the U.S. market as an excellent opportunity to significantly expand our business, especially with our premium brand Zumtobel," Chief Executive Ulrich Schumacher said in a statement on Friday.
"Due to the competitive structures in the already consolidated U.S. market, we see the best opportunity to pursue growth in the form of a strategic partnership."
At a capital markets day in Frankfurt on Wednesday, Schumacher had said Zumtobel had two options for the U.S. business: shut it down or look for a partner.
(Reporting by Georgina Prodhan; Editing by Anthony Barker)