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Ferro to Close Rotterdam Plastics Plant; Swaps Assets with Heraeus

2:52 PM MDT | April 20, 2010 | Nancy Seewald

Ferro says it will close its Rotterdam plastics manufacturing site and consolidate operations into its Almazora, Spain facility by June 30. The move will result in the loss of about 44 positions. Ferro will incur one-time net charges of about $6 million, and will yield savings of about $5 million/year. Earlier this year, Ferro announced plans to discontinue frit production at Castanheira, Portugal and move plastics manufacture in Portugal to Almazora. That move, expected to be completed by August, will result in the loss of 125 positions, and will yield savings...

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