This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7915669.stm

The article has changed 5 times. There is an RSS feed of changes available.

Version 2 Version 3
US company takes over Wedgwood US company takes over Wedgwood
(about 1 hour later)
Waterford Wedgwood, which went into administration earlier this year, has been sold to a US private equity firm.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, the US-based private equity firm, will acquire most of the firm's UK and overseas assets.
Much of Waterford Wedgwood's UK production is expected to move to Indonesia as a result of the deal. It is not clear what will happen to the firm's UK production. There were fears it could be moved to Indonesia.
"We are pleased to announce that we have signed a contract with KPS Capital Partners," said Angus Martin, a partner with the firm's administrator Deloitte.
KPS is buying a range of businesses under the Waterford group, including Royal Doulton and Waterford Crystal.
The iconic company, founded in 1759, went into administration on 5 January.The iconic company, founded in 1759, went into administration on 5 January.
In 1987, it merged with the well-known brand Waterford Crystal to create Waterford Wedgwood. In 1987, it merged with the well-known Irish brand Waterford Crystal to create Waterford Wedgwood.
The firm employed 1,900 staff in the UK and 600 at its factory in Barlaston, Stoke-on-Trent, but has announced 367 redundancies.The firm employed 1,900 staff in the UK and 600 at its factory in Barlaston, Stoke-on-Trent, but has announced 367 redundancies.
The Irish section of the firm has about 800 staff based in Waterford.The Irish section of the firm has about 800 staff based in Waterford.
Elsewhere, the firm employs 5,800 people. Indonesia is the largest manufacturing centre, with 1,500 people working on production.Elsewhere, the firm employs 5,800 people. Indonesia is the largest manufacturing centre, with 1,500 people working on production.