It was announced that Ferro Corp had signed a definitive agreement with investment group CerCo LLC, to sell them their Specialty Ceramics business.
The Specialty Ceramics division manufactures ceramics products including grinding media, kiln furniture, wear tiles and other structural ceramics. Products are sold into industries such as tableware, pottery and power generation and transmission.
The sale involves two manufacturing facilties in the USA and another one in Europe.
The divestiture by ferro, is consistent with their strategy to sell off several small non-core businesses. The strategy is aimed at repositioning the company and setting up for improved growth. Funds from the sale will be used for reducing debt levels.
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