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Ferro Corp (FOE.N)

FOE.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

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

BRIEF-Ferro reports Q1 earnings per share $0.26 from continuing operations

* Ferro reports robust first quarter 2017 performance and updates full-year guidance