Waterford Wedgwood brought a tie-up with china maker Royal Doulton a step closer today after announcing the terms of an agreed £39.9 million takeover.
The proposed deal, which still requires shareholder approval, is expected to boost the competitiveness of the two companies in a toughening market.
Waterford's state-of-the-art facility at Barlaston, near Stoke, should also benefit from the addition of production of the Royal Doulton and Minton brands.
The move will ensure some work on Royal Doulton's famous china remains in the UK as the company is currently in the process of closing a factory with the loss of 500 jobs at Nile Street, Stoke.
It is not known if Waterford will take on more staff following the takeover.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article