Ferro to Divest Powder Coating Business

Ferro Corp. have just signed a definitive agreement to sell their powder coatings business for $160 million. The divestiture will consist of two transactions which will see Akzo Nobel acquire operations in the Americas and Asia Pacific while Rohm and Haas will acquire European operations.

The operations that will go to Akzo Nobel consist of two manufacturing facilities and a research and development facility in the USA as well as two facilities in the Asian region. Rohm and Haas will likewise acquire three manufacturing operations across Europe.

The divestitures are consistent with Ferro’s long term strategy which did not include the powder coatings divisions. They will have better opportunity to grow under the new ownership.

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