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Chemical Week Magazine :: Business & Finance :: United States/Americas
Ferro sells solar pastes; investors critique management
8:42 AM MST | February 8, 2013 | —Vincent Valk
Quinn: Taking a seat on Ferro’s board? 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. The sale will also reduce Ferro’s debt by $11 million and its precious metals consignment...
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