Change of Name To Ceramco
Crown Lynn became Ceramco in 1974 and diversified into a series of new interests, including electronics, appliance wholesaling and making acquisitions including Bendon lingerie. Ceramco announced the Crown Lynn factory closure on May 5, 1989. By then staff numbers had fallen to between 180 and 220, and many amongst the largely female workforce believed that the Government had sabotaged the company by allowing cheap imported tableware into the country. Crown Lynn's share of New Zealand's domestic tableware market was then less than 20% in value, despite the company's successful move from the lower end of the market to a more middle ground.
Ceramco blamed the closure in part on union inflexibility in a pre-Labour market reform economy. Although Crown Lynn was showing signs of recovery after years of trading losses, the company simply could not compete with the advanced manufacturing technologies of Asia and Europe. All of Crown Lynn's assets, including plant, designs and brand name, were sold to GBH Porcelain Sdn Bhd of Malaysia in September 1989.
Read more about this topic: Crown Lynn
Famous quotes containing the words change of and/or change:
“This is the end, the redemption from Wilderness, way for the
Wonderer, House sought for All, black handkerchief washed clean by
weeping—page beyond Psalm—Last change of mine and Naomi—to Gods perfect Darkness—Death, stay thy phantoms!”
—Allen Ginsberg (b. 1926)
“The appeal of the New Right is simply that it seems to promise that nothing will change in the domestic realm. People are terrified of change there, because it’s the last humanizing force left in society, and they think, correctly, that it must be retained.”
—Gerda Lerner (b. 1920)