Ferro Expands Tile Coatings Business

Ferro Corp of Cleveland, OH has completed the acquisition of Vetriceramici SpA of Italy for about US$104 million. Ferro says the acquisition is an excellent strategic fit with its existing tile coatings business, adds to its frit production capacity and expands its geographic footprint. The all cash transaction was funded with excess cash and borrowings under the company’’s existing revolving credit facility.

Volume 28 issue 23

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