Ferro Corporation (NYSE:FOE) today announced it closed its transaction with Heraeus of Hanau, Germany. The two companies have acquired from each other certain business lines concerning decoration materials for ceramic and glass products. Terms of the transaction, first announced April 19, were not disclosed.
Ferro, a producer of technology-based performance materials, has acquired Heraeus' ceramic color business, which includes colors for decorating ceramics and glass. Ferro also acquired the glazes, pigments and auxiliary businesses from Heraeus to further establish the Company as a market leader in the ceramic colors industry.
Ferro sold to Heraeus its 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 adding this business will enhance its position as a market leader in precious metal preparations for the decoration industry.