Waterford crystal to return in 2010
New firm behind beleaguered company says production will start at city-centre plant in June next year. By Angela Sammon - 09/11/09
The new company behind Waterford Crystal say they hope to start production at their new city-centre plant by June next year.
The new company, WWRD (Waterford Wedgwood Royal Doulton), trading as Waterford Prestige Company, will employ up to 100 people. Approximately 800 people were employed at the Waterford Wedgwood, which closed earlier this year.
The company, which will be wholly-owned by KPS, the New York-based venture capital company that acquired Waterford Wedgwood, will be located in city council property on the Mall.
The company is understood to be capitalised at between €4 and €5 million. The manufacturing element of the new operation is expected to produce about 40,000 pieces each year at the top end of the market, items such as trophies, signature pieces and presentation pieces.
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