Ceramic Industry News

Ferro to Divest Specialty Ceramics Business

May 20, 2003
/ Print / Reprints /
ShareMore
/ Text Size+
Ferro Corp. recently announced that it has signed a definitive agreement to sell its Specialty Ceramics business to CerCo LLC, an investment group. The divestiture follows a recent announcement Ferro made regarding its intention to divest several small non-core businesses. The business has been reported as a discontinued operation since the third quarter of 2002. The Specialty Ceramics business manufactures and sells ceramic grinding media, kiln furniture, wear tile and structural ceramics to market segments ranging from tableware and pottery to power generation and transmission. Sales in 2002 were approximately $40 million. The sale to CerCo LLC includes two domestic manufacturing operations and one manufacturing operation in Europe. "This divestiture, along with the sale of our Powder Coatings business and a string of acquisitions made since 1998, represent our continued efforts to reposition and improve the growth profile of Ferro's portfolio in accordance with our Leadership Agenda strategy," said Hector R. Ortino, chairman and chief executive officer. "As always in these situations, we are committed to a smooth transition for all the employees impacted by the sale." The company will use the net proceeds to reduce debt levels.

For additional information, call (216) 875-7155 or visit http://www.ferro.com .

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

September 2014 Issue Highlights

Our September 2014 issue is now available!

Posted: December 15, 2014

Podcasts

Manufacturing Day 2014

Manufacturing Day organizers share their insights with Managing Editor Kelsey Seidler.

More Podcasts

Ceramic Industry Magazine

CI December 2014 cover

2014 December

Be sure to check out our annual Services Directory and Business Guide, with additional articles on advanced glass components, ceramic grinding media, and more!

Table Of Contents Subscribe

Personal Smartphones

Do you use your personal smartphone or other device to complete tasks for your job?
View Results Poll Archive

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!