Ferro Sells Property Rights

Ferro has announced a buyer and the selling price for its previously announced sale of certain property rights related to the company’s porcelain enamel frit manufacturing facility at Rotterdam. Brix Houwelingen Projecten XVIII (Sliedrecht, the Netherlands) has agreed to purchase the rights for about €2.9 million ($4.5 million). The deal is expected to close in the fourth quarter of 2008. Ferro announced plans last November to discontinue production of porcelain enamel frit at Rotterdam during 2008 and consolidate the production at other Ferro...

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