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Chemical Week Magazine :: Business & Finance :: United States/Americas

Ferro ups 2015 earnings target on cost savings

3:29 PM MDT | September 23, 2013 | —Vincent Valk

Ferro has raised its 2015 earnings target to $1/share or higher, up from 90 cts–$1/share previously, citing the expected benefit from an effort to improve procurement processes and reduce indirect spending. The company has entered into agreements with Procurian (King of Prussia, PA) and Capgemini (Paris) to review these costs, which include back office costs, information technology, equipment, telecommunications, and travel. Ferro says it spends about $325 million/year on these indirect...

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