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Ferro sells precious metals product line

3:27 PM MDT | October 31, 2013 | Vincent Valk

Ferro says it is selling its precious metals powders and flakes product lines in North America and Asia to Ames Goldsmith (South Glens Falls, NY), a precious metals products maker, for $13 million in cash. The deal includes a precious metals powders and flakes plant and inventory in South Plainfield, NJ, and assets in Tsukuba, Japan. The two operations had sales of $23 million through 30 September, Ferro says. The deal also includes a seven-year precious metals supply agreement and other precious metals valued at $43 million, which Ames will supply to Ferro to...

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