ONEIDA, N.Y., May 10, 2005 (PRIMEZONE) -- Oneida Ltd. (OTCBB:ONEI) today announced the appointment of Jim Mylonas to the position of Senior Vice President and General Manager of Oneida's newly created Consumer Division. In his new role, Mr. Mylonas will be responsible for sales of Oneida flatware, crystal, glassware and metal serveware; Sakura dinnerware and the Home Store retail operations. Mr. Mylonas will report to Jim Joseph, Executive Vice President of Worldwide Sales and Marketing
"This newly created position will be the initial step of our new go-to-market strategy," stated Jim Joseph. He continued, "With the accountability for sales consolidated, we will be better positioned to leverage and coordinate the strengths of our organization and our brands in servicing the needs of our customers. Mr. Mylonas' leadership qualities, his understanding of the marketplace and his experience in product development make him the right person for this important assignment."
Mr. Mylonas has served as President of the Sakura dinnerware division for the past two years and as the division's Vice President, Sales and Product Management for the previous six years. Prior to joining Oneida, his experience included various sales and marketing positions in the home furnishings industry.
Mr. Peter Fobare, Senior Vice President and a 33-year veteran of Oneida, has announced his retirement effective as of July 31, 2005. Mr. Terry Westbrook, President and CEO of Oneida Ltd. said, "We appreciate the many contributions that Pete has made to the organization and wish him well in the years to come."
Oneida is a leading source of flatware, dinnerware, crystal, glassware and metal serveware for both the consumer and food service industries worldwide.
Forward Looking Information
With the exception of historical data, the information contained in this Form 10-Q, 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, 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; availability or shortage of raw materials; difficulties or delays in the development, production and marketing of new products; financial stability of the Company's contract manufacturers, and their ability to produce and deliver acceptable quality product on schedule; 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 of obtain needed waivers and/or amendments relative to it's finance 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, including the failure to close the Sherrill, NY manufacturing facility on schedule and within budget; future product shortages resulting from the Company's transition to an outsourced manufacturing platform; international health epidemics such as the SARS outbreak; 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.