Ceramic Industry News

Ferro Closes dmc2Acquisition

September 19, 2001
/ Print / Reprints /
ShareMore
/ Text Size+
Ferro Corp. recently announced that it has completed the acquisition of certain businesses of dmc2 from OM Group, Inc. (OMG). The businesses acquired include electronic materials, performance pigments, glass systems and Cerdec ceramics, and had combined revenues of approximately $520 million in 2000. The cash purchase price was approximately $525 million. The company also reported that it had entered into foreign exchange contracts to protect against changes in the purchase price due to movements in the value of the Euro. Those contracts were closed at gains of approximately $17 million, effectively reducing the purchase price paid to OM Group to $508 million.

Hector R. Ortino, Ferro chairman and chief executive officer, said, "The acquisition of the dmc2 businesses is a perfect fit for Ferro. The businesses acquired complement Ferro's own operations in technology, geographic reach and product portfolio. We see substantial opportunities to strengthen the combined operations and achieve significant efficiencies as we bring the best of both companies together." The company noted that integration teams comprised of personnel from both Ferro and dmc2 are already under way to combine the two organizations.

For more information on Ferro, visit http://www.ferro.com or call (216) 875-7107.

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

June 2014 Issue Highlights

Our June 2014 issue is now available!

Podcasts

Manufacturing Day 2014

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

More Podcasts

Ceramic Industry Magazine

CI September 2014 cover

2014 September

You won't want to miss the CI Top 10, traditionally our most popular article of the year!

Table Of Contents Subscribe

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.

Directories

CI Data Book July 2012

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

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px