Manufacturing Industry
Ferro Corp. Completes Acquisition of [dmc.sup.2]. (Industry news).
Journal of Coatings Technology, The, November, 2001
Ferro Corp., Cleveland, OH, has completed the acquisition of certain businesses of [dmc.sup.2] from OM Group, Inc., Cleveland. The businesses acquired include electronic materials, performance pigments, glass systems, and Cerdec ceramics. The cash purchase price was approximately $525 million. The company also reported that it had entered into foreign excange contracts to protect against changes in the purchase price due to movements in the value of the Euro. Those contracts were closed at gains of approximately $17 million, effectively reducing the purchase price paid to OM Group to $508 million.
Integration teams comprised of personnel from both Ferro and [dmc.sup.2] are under way to combine the two organizations. Due to the acquisition, Ferro expects to have...
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