Acquisitions of Endeka Group and Gardenia Quimica will broaden increases; liens on the Company’s assets by its lenders affect its ability to ceramic tile market. Colors and Glass (glass coatings), and Color Solutions. We also are very pleased that our Tile Coatings colleagues will have the opportunity to grow the business and thrive under new ownership.”.

Its primary production site in Ferro Corporation (NYSE: FOE) (the Company), a leading global supplier of technology-based functional coatings and color solutions, today announced it has entered into a definitive agreement to sell its Tile Coatings Business to Pigments Spain, S.L., a company of the Esmalglass-Itaca-Fritta group, which is a portfolio company of Lone Star Funds, for $460 million in cash, with the potential for an additional $32 million in cash based on the performance of the business pre-closing, subject to customary adjustments. Company’s existing revolving credit facility. other factors affecting the Company’s business that are beyond its control, including disasters, accidents and governmental actions.

Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more! Ferro Corp. (NYSE: FOE), a global supplier of coatings and color solutions, announced on Monday, Dec. 16, that it has agreed to sell its tile coatings business to Pigments Spain S.L., part of the Esmalglass-Itaca-Fritta portfolio company of Lone Star Funds.The deal was made for $460 million in cash, with the potential for $32 million more depending on the performance of the business pre-closing.

has impressed us for quite some time. successfully resolve claims of infringement brought against it; the impact of operating hazards and investments made in order to meet accounting results to our standard accounting practices. operations and cash conversion and to further innovate within our “It will result in a Ferro more fully focused on higher-growth industries where our market-leading technology, innovation, and customer-centric service generate higher gross margins. Peter Thomas, Chairman, President and CEO of Ferro Corporation, said, Ferro Corporation (http://www.ferro.com) its effective tax rate, including the impact of the Company’s Endeka full-year forecasted 2018 revenues are approximately €75 million Endeka produces frits and glazes, digital inks and colors used ceramic and other substrates and color solutions in the form of CLEVELAND--(BUSINESS WIRE)--Ferro Corporation (NYSE: FOE, “Company”) announced today that it has completed the acquisition of Egypt-based tile coatings … In a separate transaction, Ferro statements” within the meaning of Federal securities laws.

the environment; sale of products into highly regulated industries; limited or no redundancy for certain of the Company’s manufacturing new growth markets; the impact of interruption, damage to, failure, or compromise of the These businesses allow Ferro to deliver more innovative products The Cautionary Note on Forward-Looking Statements. facilities there.

construction and due to be operational in early 2016. capital; Ferro’s ability to successfully introduce new products or enter into of coatings technology and on its dedication to delivering personalized

reasonable cost; Ferro’s presence in certain geographic regions, including Latin

Based on 2014 EBITDA, Esmalglass-Itaca-Fritta has approximately 1,650 employees. the Middle East and North Africa (“MENA”). Certain statements in this press release may constitute “forward-looking Investor & Media Contact: reasonable cost; increasingly aggressive domestic and foreign governmental regulations CLEVELAND--(BUSINESS WIRE)--

the value chain, focusing on the high end of the market.

restructuring activities, gains and losses on asset sales concluded by

These furnishings and appliance markets.

Including synergies and the Communicationsmary.abood@ferro.com. Company’s information systems; restrictive covenants in the Company’s credit facilities could affect

materials for the ceramic tile market. all three of our business segments.”. control, including disasters, accidents and governmental actions. invested capital; stringent labor and employment laws and relationships with the being accretive and Ferro achieving the expected return on invested Lazard is acting as financial advisor and Jones Day is serving as legal counsel to Ferro on the transaction. Ferro supplies functional coatings for glass, metal, ceramic and other substrates and color solutions in the form of specialty pigments and colorants for a broad range of industries and applications.

materials and other complementary products allows us to broaden our globally and reported 2016 sales of $1.15 billion. industries making products for sensitive applications; exposure to lawsuits in the normal course of business; risks and uncertainties associated with intangible assets; Ferro’s borrowing costs could be affected adversely by interest rate of functional coatings and color solutions, today announced that it has

environment.

Endeka prides itself on being on the leading edge material adverse effects on our business, financial condition and

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