People & Business :: Earnings/Finance
Ferro sells solar pastes business
12:31 PM MST | February 6, 2013 | Vincent Valk
Ferro has sold its solar pastes business to Heraeus (Hanau, Germany), a privately held precious metals technology company, for an undisclosed sum, the company says. The deal completes a strategic review of the business that was announced in October. The sale “will eliminate approximately $17 million of negative drag on operating earnings from the solar pastes business,” says Ferro interim CEO Peter Thomas. It will also reduce Ferro’s debt by $11 million and its precious metals consignment arrangements by $12 million, he says. Ferro has...
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