EXHIBIT (a)(5)(ii)
PRESS RELEASE
For Immediate Release
J.G. Durand Industries and Mikasa Complete Merger
Paris, France, and New York, NY, January 12, 2001. J.G. Durand Industries, S.A.,
the parent company of Arc International, S.A. (formerly Verrerie Cristallerie
d'Arques), the world's largest glass and crystal manufacturer, and Mikasa, Inc.
(NYSE: MKS), a leading tabletop products company, announced the completion today
of the merger of a wholly-owned subsidiary of J.G. Durand Industries with and
into Mikasa.
Under the terms of the merger, Mountain Acquisition Corp., a wholly-owned
subsidiary of J.G. Durand Industries, was merged into Mikasa and all outstanding
shares of Mikasa common stock were converted into the right to receive $16.50
per share in cash. Following the transaction, J.G. Durand Industries owns
approximately 84.7% of Mikasa, with Alfred J. Blake, Chairman of Mikasa, Raymond
B. Dingman, President and Chief Executive Officer of Mikasa, Anthony F.
Santarelli, Executive Vice President of Mikasa, and George T. Aratani, Chairman
Emeritus and the founder of Mikasa, retaining approximately 15.3% of Mikasa.
It is expected that Mikasa will be operated as a stand-alone subsidiary. Senior
members of Mikasa management, including Messrs. Blake, Dingman and Santarelli,
will continue with Mikasa in their current roles.
Mikasa's common stock will be delisted from the New York Stock Exchange, and
holders of Mikasa common stock are entitled to receive $16.50 per share. These
funds have been deposited with a paying agent and a letter of transmittal and
instructions will be sent to shareholders to enable them to surrender stock
certificates in exchange for payment.
Arc International
Established in France in 1825, Arc International is the world leader in
tableware. Arc International achieved sales in 1999 of one billion euros, with
over 80% generated outside France. It is commercially present in 160 countries
with 30 representative offices on 5 continents and production units in France,
the United States, Spain and China.
Arc International, specialists in automated crystal and glassware production, is
present in glassware and crystal products for table and household decoration, in
all the distribution channels and international markets. The group markets its
products in a larger portfolio of famous brands including Cristal d'Arques, JG
Durand, Luminarc, Arcoroc and Salviati.
In the United States, Arc International has a production subsidiary in
Millville, NJ, the Durand Glass Manufacturing Company, and a sales subsidiary,
Arc International North America.
Arc International, whose headquarters are in Arques (France), employs 13,800
people, including 11,900 in France and 1,230 in the United States.
Mikasa
Mikasa, Inc. is a leading designer, developer and marketer of quality tabletop
products. The Company markets its products to retail accounts including
department stores, specialty retail stores and mass merchants, and through
Company operated retail stores.
Founded in 1948, Mikasa's growth in the 1960's was spurred by pioneering a
totally new direction in dinnerware-the casual style in the North American
market. This innovation proved to be immensely popular with the consumer and was
a catalyst for Mikasa's continuous rapid sales growth.
In 1978 Mikasa initiated its tabletop diversification efforts by designing and
outsourcing Mikasa crystal products from Europe to augment its already
successful dinnerware lines. During the 1980's this diversification effort was
expanded with the introduction of stainless flatware, gifts, table linens and
decorative accessories for the home.
With a sales volume of US $ 420 million in 1999, Mikasa is the North American
market leader in branded tableware. Today the Mikasa brand has gained consumer
recognition and respect as a market innovator and enjoys substantial market
share in both dinnerware and crystal.
Mikasa and its management team have demonstrated an ongoing ability to
anticipate emerging consumer trends with a long history of expertise in
outsourcing and rapid product development. This expertise has enabled the
Company to deliver an ongoing succession of stylish and successful product
introductions.
Mikasa, with headquarters in Secaucus, NJ (United States), employs 4,000
associates. The Company owns and operates 167 retail stores in the United
States, Canada and Puerto Rico under the Mikasa name and markets its products
through 6,700 independent retail accounts including leading department stores in
North America. The Company markets its products under the Mikasa, Studio Nova,
Home Beautiful and Christopher Stuart brand names.
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Press contact for Arc International, S.A.
In the United States: Liza Olsen - (212) 614 4951
In France: Valerie Foulon - (011 33) 6 07 14 04 96
Contact for Mikasa, Inc.
Brenda W. Flores, Chief Financial Officer - (201) 867-9210
Jeffrey Zack/Laila Danesh, Media: Stacy Roth
Morgen-Walke Associates - (212) 850-5600
