After The Soviet Era
LFZ became privatized in 1993 as the "Lomonosov Porcelain Factory". At that time, wide exports began to countries unfamiliar with Lomonosov wares, particularly the United States and Japan. In 1999, KKR, an American investing firm, bought a controlling interest in LFZ. This prompted a long legal battle in Russia, made headlines in international business journals, and ultimately resulted in a legal victory for the American investors. However, when it became apparent that the American investors were primarily interested in looting the factory's priceless museum, the Russian Government forced the investors to relinquish control of the museum to the Hermitage. Having no real interest in running a porcelain factory, in 2002, the American investors sold LFZ to Nikolai Tsvetkov, President of Nikoil, who acquired the famed factory as a present for his wife on the occasion of the International Women's Day of March 8.
Read more about this topic: Imperial Porcelain Factory
Famous quotes containing the words soviet and/or era:
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