Are you protected? Detect and Block privacy threats to your computer. Start now!

2006-08-27 News Headlines

Web jobwerx.com jobwerx.tradepub.com

Search Jobwerx The Engineering Web

Successful consummation of the Ferro Specialty Plastics sale

US group Ferro Corporation has agreed to sell its Specialty Plastics business to a private equity investment firm with the sale proceeds to reduce debt levels.

Ferro Corporation has agreed to sell its Specialty Plastics business to the private equity investment firm Wind Point Partners.

The Cleveland-based Ferro Corporation plans to use the proceeds from the sale, put at 133 million dollars by some sources, scheduled to close in the third quarter of this year, to reduce its outstanding debt.

Find Information and Suppliers of thermoplastic compounds.

The Specialty Plastics business covers many of Ferro’s best known product lines such as masterbatch, compounds and specialty polyolefin alloys from an 11 strong network of plants including one at Aldridge in the UK. The business develops and produces customized thermoplastic compounds and alloys, plastic colorants, gelcoats, and thermoset pastes that are marketed to manufacturers in a broad range of end markets, such as in automotive and appliance applications, household furnishings and leisure products.

Headquartered in Chicago, Wind Point Partners manages 2 billion dollars in capital and aims at partnering with top calibre executives to acquire middle market businesses with a clear path to value creation, the company says.

"We are focused on transforming Ferro into a high-performance company, both operationally and financially," said CEO James F. Kirsch. "Our new management is moving aggressively to drive profitability and to position our operations for accelerated growth in new geographic and customer end markets.

"We continue to evaluate our business for divestment opportunities with the goals of reducing debt and leveraging technology and production synergies across a narrower set of related, core businesses that have strong growth characteristics."

Find more Information about Ferro Corporation.

Read recent plastics news from Distrupol about - 'Providing plastics processors with leading polymers, Distrupol exhibit to focus on technical support at PDM 06 in Telford.'

Plastics Processing Jobs - Post Employment Opportunity!

E-mail this page to a friend

- Ticona Technical Polymers JV PPS plant expansion

- Certification, Training and Courses from The American Management Association

- Looking for a Study Program?

- All this Months News

- How Well Do You Know Yourself? Select from 22 different tests and find out!

Copyright - Unless otherwise stated all contents of this web site are © 1998/2006 JOBWERX.COM. – All Rights Reserved. For permission to reproduce any contents of this web site, please advise our Syndication department: Log onto HELP