US company takes over Wedgwood
UK production is expected to move to Indonesia
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.
KPS Capital Partners, the US-based private equity firm, will acquire most of the firm's UK and overseas assets.
It is not clear what will happen to the firm's UK production. There were fears it could be moved to Indonesia.
BBC NEWS | Business | US company takes over Wedgwood
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