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Ferro Corp (FOE.N)

FOE.N on New York Stock Exchange

12.80USD
23 Sep 2016
Change (% chg)

$-0.26 (-1.99%)
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Latest Key Developments (Source: Significant Developments)

Ferro Corp names Benjamin Schlater as CFO
Friday, 2 Sep 2016 08:30am EDT 

Ferro Corp : Benjamin Schlater has been named vice president and chief financial officer . Benjamin Schlater succeeding Jeffrey Rutherford, who stepped down from position on September 1. .Rutherford is expected to remain with company as an advisor to Schlater through end of 2016.  Full Article

Ferro amends its senior credit agreement
Tuesday, 30 Aug 2016 04:20pm EDT 

Ferro Corp : Amended its senior credit agreement by entering into second incremental assumption agreement .Incremental agreement increases revolving loan commitment amount from $300 million to $400 million.  Full Article

BRIEF-Ferro says has sold Antwerp assets
Tuesday, 30 Aug 2016 01:56pm EDT 

Corrects headline to Ferro says "has sold Antwerp assets" from "Antwerp assets up for sale".Ferro Corp [Ferro Corp] : Says in connection with buyer's assumption of all of liabilities of Antwerp assets, made capital contribution of eur 12 million to units that previously owned the assets .Says expects transaction will result in impairment charges and other related expenses of $25 million to $30 million.  Full Article

Ferro reports Q2 adj. earnings $0.34/shr from continuing operations
Wednesday, 27 Jul 2016 04:15pm EDT 

Ferro Corp : Ferro reports increased earnings for second quarter 2016 driven by higher sales and gross profit margins . Q2 adjusted earnings per share $0.34 from continuing operations . Q2 earnings per share $0.29 from continuing operations . Q2 sales $298 million versus I/B/E/S view $304 million . Raises FY 2016 adjusted earnings per share view to $1.00 to $1.05 . Q2 earnings per share view $0.27 -- Thomson Reuters I/B/E/S . Approved new stock repurchase program to repurchase up to an additional $25 million of company's outstanding common stock . Sees FY constant currency sales growth 10.5 pct - 11.5 pct . Sees FY consolidated gross profit margin 30.5 pct - 31.0 pct . Identified "efficiency optimization opportunities" that are expected to increase profitability by $20 - $30 million annually . Identified "efficiency optimization opportunities" expected to be over next three years .FY2016 earnings per share view $0.97, revenue view $1.14 billion -- Thomson Reuters I/B/E/S.  Full Article

Ferro drawing final-round interest from Apollo, CVC - Bloomberg
Wednesday, 6 Jul 2016 01:14pm EDT 

:Ferro Corp drawing final-round interest from Apollo Global Management Llc, Cvc Capital Partners, Rhone Capital - Bloomberg, citing sources.  Full Article

Ferro Corp board explores possible strategic alternatives for company
Monday, 9 May 2016 08:37am EDT 

Ferro Corp : Board of directors is exploring possible strategic alternatives for company . Company has retained Lazard Frères & Co as its financial advisor .No decision has been made to engage in a transaction or transactions resulting from board's exploration of strategic alternatives.  Full Article

Ferro Corporation says purchased 100% of the equity of privately held Istanbul-based Ferer Dis Ticaret Ve Kimyasallar Anonim Sirketi A.S.
Tuesday, 5 Jan 2016 04:07pm EST 

Ferro Corporation:Says that it has purchased 100% of the equity of privately held Istanbul-based Ferer Dis Ticaret Ve Kimyasallar Anonim Sirketi A.S. ("Ferer") for about $9.0 million in cash, on a cash-free and debt-free basis, subject to working capital and other adjustments.The transaction will be funded with excess cash and a draw on the Company's revolving credit facility.  Full Article

Ferro Completes Acquisition of Egyptian Tile Coatings Manufacturer Al Salomi for Frit and Glazes
Tuesday, 17 Nov 2015 09:29am EST 

Ferro Corporation:Says it has completed the acquisition of Egypt-based tile coatings manufacturer Al Salomi for Frit and Glazes ("Al Salomi") for approximately $36 million, including the assumption of debt, and subject to customary working capital and other purchase price adjustments.acquisition was previously announced on September 3, 2015.  Full Article

Ferro enters into agreement to acquire egyptian tile coatings manufacturer Al Salomi for Frit and Glazes
Thursday, 3 Sep 2015 07:48am EDT 

Ferro Corp :Enters into agreement to acquire egyptian tile coatings manufacturer Al Salomi for Frit and Glazes.Says deal valued at about $39 million.Says transaction is not expected to significantly impact ferro's 2015 earnings.The transaction will be funded with excess cash and a draw on the company's revolving credit facility.Says deal expected to be accretive to adjusted diluted earnings per share by $0.03 to $0.06 in 2016.Says expects the investment will achieve a return on invested capital of greater than 10% initially.Says transaction is expected to close within the next 60 days.Says to acquire 100% of the equity of al salomi On A Cash-free and debt-free basis.Says deal adds capacity to expand sales in the middle east and north Africa and eastern Europe.  Full Article

Ferro Corp lowers FY 2015 EPS outlook
Wednesday, 29 Jul 2015 04:05pm EDT 

Ferro Corp:Anticipates FY 2015 adjusted earnings per share to be in the range of $0.82 - $0.87 compared with prior guidance of $0.89 - $0.96 per diluted share.FY 2015 EPS of $0.95 - Thomson Reuters I/B/E/S.  Full Article

BRIEF-Ferro Corp names Benjamin Schlater as CFO

* Benjamin Schlater has been named vice president and chief financial officer