Ferro have just completed the sale of their powder coatings businesses. The businesses with sales of $175 million in 2001, were divested for approximately $160 million.
The sale of the businesses consisted of two transactions. The American and Asian-Pacific operations were acquired by Akzo Nobel, while European operations were purchased by Rohm and Haas.
The divestiture of the powder coatings businesses represents the next step forward in Feero's corporate strategy to reposition the company. A strategy that was set in place in 1999. The acquisition of eight businesses over the last four years by Ferro is also consistent with this strategy and has helped to strengthen the organisation and its growth.
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