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Chemical Week Magazine :: Newsbriefs
Ferro to Shut Rotterdam Unit, Consolidate Other European Sites
12:50 PM MST | November 9, 2007 | Chemical Week Editorial Staff
Ferro says it will discontinue porcelain enamel frit production at its Rotterdam, the Netherlands plant by next summer and will consolidate production at other European sites. The consolidation is part of Ferro’s ongoing effort to reduce annual costs in European manufacturing operations by $40 million-$50 million by the end of 2009, the company says. The consolidation will reduce Ferro’s Rotterdam workforce by 84, and result in a pre-tax charge in the third quarter of roughly $5.9 million, the company says. The charge is expected to reduce diluted...
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