Ferro considering sale of solar pastes business; guidance cut by 42%

Ferro says it is considering the sale of its solar pastes business “in an effort to eliminate its drag on ... earnings and cash flow,” says CEO James Kirsch. “The market for conductive pastes used in the manufacture of solar cells has been particularly challenging for much of 2011 and 2012, as the solar industry struggles with overcapacity and rapidly falling prices for solar-power panels.”   The company is also revising down its 2012 earnings guidance by 42% at the midpoint, to 7–12 cts/share, on a 14–17-cts/share...

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