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| US company takes over Wedgwood | |
| (10 minutes later) | |
| Waterford Wedgwood, which went into administration earlier this year, has been sold to a US private equity firm. | |
| The iconic but debt-laden company, which is known for its Wedgwood pottery, Royal Doulton and Waterford crystal, was hit hard by the downturn. | The iconic but debt-laden company, which is known for its Wedgwood pottery, Royal Doulton and Waterford crystal, was hit hard by the downturn. |
| KPS Capital Partners, a US-based private-equity firm, will acquire both the UK and overseas assets of the firm. | KPS Capital Partners, a US-based private-equity firm, will acquire both the UK and overseas assets of the firm. |
| Much of Waterford Wedgwood's UK production is expected to move to Indonesia as a result of the deal. | Much of Waterford Wedgwood's UK production is expected to move to Indonesia as a result of the deal. |