Waterford Wedgwood Plc Chairman Tony O“Reilly said that the Irish luxury china and crystal group wants to buy the German porcelain brand Hutschenreuther AG.
Hutschenreuther is a division of Winterli…
Waterford Wedgwood Plc Chairman Tony O“Reilly said that the Irish luxury china and crystal group wants to buy the German porcelain brand Hutschenreuther AG. Hutschenreuther is a division of Winterling Porzellan AG, which filed for insolvency in September 1999. Waterford is interested in buying the brand rather the production facilities. After Waterford Wedgwood“s annual general meeting, O“Reilly said that the German competition authorities a day ago “broadly agreed” that they wouldn“t oppose the fusion of the two companies. However, O“Reilly noted that acquiring a German company in receivership is “difficult and tortuous.” Hutschenreuther had sales of DM 300 million in 1999. “Hutschenreuther is a good brand,” said O“Reilly. “We“re in active discussions with the receiver, but I don“t expect anything immediately. We want to help in the rationalization of the ceramics business.” When asked about the company“s 14.9% minority stake in Royal Doulton, O“Reilly said Waterford Wedgwood was in a very good position to influence the English ceramic maker“s future. “Is the company in play? Who knows, but if someone makes a bid for Royal Doulton we“re interested in taking a seat at the negotiations,” O“Reilly said.