Tile Producers Portobello, Eliane To Merge

New York, NY, Jan. 16, 2012 -- Brazilian tile producers Portobello SA and Eliane SA are merging into one company with a new corporate name, which will make it one of the top five producers worldwide.

The combined operation will reportedly have about $650 million in sales. The brands will continue to operate independently.

Completion of the merger is scheduled for the first quarter.