Oneida Completes Buffalo China Factory Sale
March 18, 2004
Oneida Ltd. has completed its sale of certain assets of the Buffalo China dinnerware factory in Buffalo, N.Y., to Niagara Ceramics Corp. of Buffalo for $5.5 million in cash. Oneida previously announced on January 20, 2004, an agreement to sell the assets to BC Acquisition Co. LLC, which has since assigned its interests to Niagara Ceramics Corp., an entity comprised of the same principal leadership as BC Acquisition. The sale includes the factory buildings and associated equipment, materials and supplies. The Buffalo China name and all other active Buffalo China trademarks and logos will remain the property of Oneida. The sale does not include the Buffalo China warehouse in Buffalo, N.Y., which Oneida will continue to operate for the foreseeable future. As was previously announced, the buyers will operate the Buffalo factory as an independent supplier. Niagara Ceramics is headed by Robert L. Lupica, who was previously Oneida's senior vice president and general manager for Buffalo Operations.
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