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Article: Ferro Announces Purchase Agreement for Rotterdam Site.
- Article from:
- Business Wire
- Article date:
- March 26, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CLEVELAND -- Ferro Corporation (NYSE:FOE) announced today that it has entered into an agreement to sell certain property rights related to the Company's porcelain enamel frit manufacturing facility in Rotterdam, The Netherlands, to Brix Houwelingen Projecten XVIII B.V. for approximately 2.9 million Euro (approximately $4.5 million at current exchange rates). The sale is expected to close in the fourth quarter of 2008 after receipt of certain conditions precedent, including local government consents and completion of the buyer's environmental survey of the property.
Ferro announced on November 2, 2007, its intention to discontinue manufacturing of porcelain enamel ...