EXHIBIT 99.1
ONEIDA
NEWS RELEASE
INVESTOR RELATIONS CONTACTS: PRESS CONTACTS:
Gregg Denny, (315) 361-3138 David Gymburch, (315) 361-3271
FOR IMMEDIATE RELEASE
ONEIDA LTD. AND ANCHOR HOCKING
ANNOUNCE LICENSING AGREEMENT FOR FOODSERVICE GLASSWARE
ONEIDA, NY - November 18, 2004 - Oneida Ltd. (OTC:ONEI) and the Anchor Hocking
Company announced that they have entered into a licensing agreement for glass
products for use within the foodservice industry. Under this agreement, the two
companies' foodservice glassware lines will be consolidated, and going forward
will be co-branded as Anchor Glass / Oneida. Sales under the agreement will
commence February 1, 2005.
The alliance brings together the Oneida Foodservice Division's channel-focused
sales organization -- specifically for chain restaurants, hotels and gaming
establishments, and transportation markets such as airlines and cruise lines -
with Anchor Hocking's key dealer distribution; core strengths in manufacturing
and procurement, marketing, and product development; and exemplary customer
service standards. Together, the Anchor Glass / Oneida brand and its associated
sub-brands will create a full assortment of stemware, barware, serveware, and
specialty glass items encompassing hundreds of products and more than 50 shapes
and designs.
"This agreement brings our foodservice glassware business to the next level,"
said Peter J. Kallet, Oneida Chairman and Chief Executive Officer. "Our
relationship with Anchor Hocking will significantly enhance our speed to market
and our ability to offer innovative, well-designed products to restaurants,
hotels, bars, and the hospitality industry in general. Anchor, which has
provided high quality glassware for 100 years, will both solidify and extend our
product portfolio.
"Oneida's long-standing relationships with key customers across multiple
foodservice channels will be coupled with Anchor's quality glass assortment,
established manufacturing base, and broad distribution," Mr. Kallet added. "This
collaboration with Anchor is an ideal way for Oneida to build on our strategy to
offer total tabletop solutions."
"By building on the core competencies of both the Oneida and Anchor Hocking
companies and the equity of two proven brand names, the Anchor Glass / Oneida
line is well-positioned to compete in the competitive Foodservice glassware
industry," stated Bert Filice, Vice President of Sales for Anchor Hocking. "We
certainly recognize the value of the Oneida brand name and believe the addition
of Anchor's strong brand name and glassware expertise is a powerful complement
to Oneida's Foodservice business model."
Anchor Hocking also welcomes the addition of Bormioli Rocco product to the
Anchor Glass / Oneida glassware line. "Bormioli Rocco is a worldwide leader in
fine glass making and we are thrilled to offer their beautiful glass designs in
our product line," continued Mr. Filice. "Together, Anchor, Oneida, and Bormioli
Rocco bring
an impressive, expanded product line to the marketplace that makes a powerful
glassware statement and truly meets any Foodservice need."
Oneida Ltd., established in 1880 and based in Oneida, N.Y., is a leading source
of flatware, dinnerware, crystal, glassware, and metal serveware for both the
consumer and foodservice industries worldwide. A major provider of tabletop
solutions for the global foodservice market, Oneida has forged key partnerships
in all primary channels of foodservice distribution, including equipment and
supply; hospitality; casual dining; health care; and cruise ships.
Anchor Hocking, a Global Home Products company, is a leading designer,
manufacturer and marketer of high quality glass products for the Foodservice,
Consumer, and OEM industries. Anchor Hocking's product lines include
beverageware, stemware, serveware, dinnerware, bakeware, storage, candle, craft,
floral, and home decor products. Anchor Hocking was established in 1905 and is
headquartered in Lancaster, OH.
Bormioli Rocco, headquartered in Parma, Italy, has been manufacturing glassware
since 1825 and is a leader in the glass industry, focused on design, quality,
and innovation. Bormioli Rocco specializes in four categories of manufacturing -
tableware, perfumery, containers for the pharmaceutical and food industries, and
plastics. The company distributes product on a global basis, currently operates
13 plants worldwide, and also operates a North American office in New York City.
Forward Looking Information With the exception of historical data, the
information contained in this Press Release, as well as those other documents
incorporated by reference herein, may constitute forward-looking statements,
within the meaning of the Federal securities laws, including but not limited to
the Private Securities Litigation Reform Act of 1995. As such, Oneida (the
Company) cautions readers that changes in certain factors could affect the
Company's future results and could cause the Company's future consolidated
results to differ materially from those expressed or implied herein. Such
factors include, but are not limited to: changes in national or international
political conditions; civil unrest, war or terrorist attacks; general economic
conditions in the Company's own markets and related markets; difficulties or
delays in the development, production and marketing of new products; the impact
of competitive products and pricing; certain assumptions related to consumer
purchasing patterns; significant increases in interest rates or the level of the
Company's indebtedness; inability of the Company to maintain sufficient levels
of liquidity; failure of the Company to obtain needed waivers and/or amendments
relative to its financing agreements; foreign currency fluctuations; major
slowdowns in the retail, travel or entertainment industries; the loss of several
of the Company's key executives, major customers or suppliers; underutilization
of or negative variances at some or all of the Company's plants and factories;
the Company's failure to achieve the savings and profit goals of any planned
restructuring or reorganization programs; international health epidemics such as
the SARS outbreak; the impact of changes in accounting standards; potential
legal proceedings; changes in pension and medical benefit costs; and the amount
and rate of growth of the Company's selling, general and administrative
expenses.