Waterford Wedgwood has sold a 22-acre site adjacent to its sports centre in Waterford city to a private developer for €32.9 million.
The company said the land surrounding the Waterford Crystal sports and social centre is underutilised.
The net book value of the land, as at September 30th, 2004, was €600,000. The property has never been used for operating purposes in the business, and there are no existing profits attributable to the land, the company said.
Waterford Wedgwood recently closed its plant in Dungravan wit the loss of 500 jobs in a cost-cutting plan aimed at shaving €90 million off overheads.
