Ferro Cuts Jobs in Inorganics; Sells NY Plant

Ferro says it will eliminate approximately 50 jobs in its inorganic specialties business unit, mostly from its Mexico facilities. The move will result in a pre-tax charge of about $1.6 million in the fourth quarter, and may result in future charges of about $2.3 million through the third quarter of 2008, the company says. Ferro says it may announce further reductions in its workforce in the future. Meanwhile, Ferro says it sold its manufacturing plant and certain industrial ceramics product lines at Niagara Falls, NY to TAM Ceramics (Niagara Falls), for an...

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