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2006-10-13 News Release

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Plastics business not for sale

Ferro reports the termination of negotiations to sell its Specialty Plastics business to a private equity investment firm as previously announced.

As recently as this past August, Ferro Corporation, Cleveland, Ohio, had reached a definitive agreement to sell its Specialty Plastics business to Wind Point Partners, a private equity investment firm. However now, discussions and negotiations with Wind Point Partners regarding the sale of its Specialty Plastics business have been discontinued.

Find Information and Suppliers of reinforced plastics.

At the time of the previous agreement, the sale of the Specialty Plastics business was consistent with Ferro's strategy to drive performance improvement and position the Company for long-term growth. The Company had been moving aggressively to strengthen its financial results through portfolio management, operational restructurings, business streamlining and management realignment, as well as productivity and pricing initiatives. It also recently announced that it is embarking on a restructuring of the European operations of its Inorganic Specialties businesses. These measures were expected to generate annualized savings of $40 million to $50 million by the end of 2009.

For the present however, Mr. James Kirsch, Ferro President and Chief Executive Officer, commented, "we did not feel that we could reach an agreement that provided Ferro shareholders with the full value of this business."

Wind Point Partners* is a private equity investment firm with offices in Chicago, Illinois, and Southfield, Michigan that manages $2 billion in capital. Wind Point focuses on partnering with top caliber executives to acquire solid middle market businesses with a clear path to value creation.

Ferro's Specialty Plastics 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.

The Specialty Plastics business portfolio consists of:

Filled and Reinforced Plastics
Ferro produces filled and reinforced plastics - specially formulated filled and reinforced engineered thermoplastic compounds and specialty polyolefin alloys used in automotive and appliance applications, household furnishings and leisure products. Ferro provides solutions in material performance, selection and formulation, and assistance with part and mold design, molding and mold flows.

Liquid Coatings and Dispersions
Liquid and paste color dispersions are produced using resin-matched vehicles that are totally compatible and/or reactive with all thermoplastic and thermoset plastics, that are suitable for a wide variety of processes.

Plastic Colorants
Their plastic colorants and additives enhance performance properties of plastic products and add distinctive special effects in appliance, automotive, agricultural, household furnishing and packaging applications.

Advanced Polymer Alloys
Ferro offers a broad selection of elastomeric materials including the world's most complete line of melt processable elastomers for demanding end use environments, thermoplastic elastomers for general purpose and over molding applications, and lower-cost, high performance, melt-processible elastomers for extrusion and injection molding applications.

Furthermore, Kirsch added, "We will continue to operate the Specialty Plastics business, and expect it to remain a positive contributor to Ferro's operations. As we go forward, we will continue to pursue portfolio realignment activities that we believe best serve the interests of our shareholders and the growth objectives of the Company."

* Wind Point Partners is the company owned, registered trademark.

Find more Information about Ferro Corporation.

Read a recent press release about - A leading global supplier of technology based performance materials for manufacturers, Ferro, breaks ground on a new site in Spain to produce colors for the European tile market.

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