Apr 21 2010
Heraeus and Ferro Corporation (NYSE:FOE) today announced that they have signed a definitive agreement to acquire from each other certain business lines concerning decoration materials for ceramic and glass products.
The agreement is subject to customary closing conditions; the companies expect the transactions to close by May 1, 2010.
“This transaction will enable both companies to offer their customers broadened technical service, more targeted products and greater innovation.”
.The Heraeus precious metals and technology group has agreed to acquire Ferro’s business operations in precious metal preparations and lustres for the decoration of glass, ceramics, porcelain and tiles. Heraeus has been in this business since 1896, and this acquisition will enhance its position as a market leader in precious metal preparations for the decoration industry.
Ferro, a producer of technology-based materials, will acquire Heraeus’ ceramic color business, which includes both lead-free and lead-containing colors for decorating glass, ceramics, porcelain and tiles. Ferro will also acquire the glazes, pigments and auxiliary businesses from Heraeus to further establish the company as a market leader in the ceramic colors industry.
Dieter Binder, Business Director of Ferro’s Performance Pigments and Colors business, explains, “With these acquisitions, both companies are focusing on their core competencies and areas of expertise.” Ralf Droste, Vice President of Thick Film Materials Division, Heraeus, says, “This transaction will enable both companies to offer their customers broadened technical service, more targeted products.
Source: http://www.ferro.com/