Heraeus and Ferro Corporation have signed a definitive agreement to acquire business lines concerning decoration materials for ceramic and glass products from each other. The agreement, which is subje…
Heraeus and Ferro Corporation have signed a definitive agreement to acquire business lines concerning decoration materials for ceramic and glass products from each other. The agreement, which is subject to customary closing conditions, is expected to be closed by 1 May 2010. Precious metals and technology group Heraeus has agreed to acquire the business operations of precious metal preparations and lustres for the decoration of glass, ceramics, porcelain and tiles of Ferro. Heraeus, which has been in this business since 1896, said that this acquisition will enhance its position as a market leader in precious metal preparations for the decoration industry. Ferro, a producer of technology-based materials, will, in turn, acquire Heraeus“ ceramic colour business, including both lead-free and lead-containing colours for decorating glass, ceramics, porcelain and tiles. Ferro will also acquire Heraeus“ glazes, pigments and auxiliary businesses to further establish the company as a market leader in the ceramic colours industry. According to Dieter Binder, business director of Ferro“s Performance Pigments and Colors, “With these acquisitions, both companies are focusing on their core competencies and areas of expertise.” Ralf Droste, vice president of Heraeus“ Thick Film Materials Division: “This transaction will enable both companies to offer their customers broadened technical service, more targeted products and greater innovation.”