Oneida To Sell Sherrill Flatware Manufacturing Facility
February 22, 2005
Oneida Ltd. recently announced that it is in final negotiations with respect to an agreement to sell certain assets of its flatware factory operations in Sherrill, N.Y., to Sherrill Manufacturing, Inc. on undisclosed terms. Oneida previously announced on September 9, 2004, that it was ceasing manufacture of flatware at its Sherrill facility. The sale includes the main manufacturing factory buildings and associated equipment, certain raw materials, and supplies. The Oneida name and all other Oneida trademarks, designs and logos will remain the property of Oneida. The buyers will operate the Sherrill factory as an independent supplier. Sherrill Manufacturing is headed by Gregory Owens, who previously headed Oneida's Mexican flatware manufacturing operations, and Matthew Roberts, who has headed Oneida's New York flatware manufacturing operations. "We are extremely pleased for Sherrill Manufacturing and for our community. We look forward to our new relationship with Sherrill Manufacturing," said Peter J. Kallet, Oneida's chief executive officer.
For more information, call (315) 361-3000 or visit http://www.oneida.com.