Ferro Corporation (NYSE: FOE), a leading global provider of functional
coatings and color solutions, today announced the closing of the
previously communicated acquisition of Endeka
Group, a global producer of high-value coatings and key raw
materials for the ceramic tile market.
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Ferro has completed the acquisition of Endeka Group. Ferro continues to expand its position in the global ceramic tile coatings market. (Photo: Business Wire)
Endeka produces frits and glazes, digital inks and colors used in the
manufacture of a broad range of ceramic products, including tile,
tableware and sanitaryware. This transaction backward integrates Ferro
into certain key raw materials used in the manufacture of ceramic
coating materials.
Julio Garcia
, VP Europe, says “Ferro has been moving its tile-oriented
portfolio up the value chain over the past few years, focusing on the
high end of the market. We also have focused on achieving operating
efficiencies and product innovation to ensure that our customers receive
the highest quality products and services. With the Endeka Group
acquisition, Ferro has strengthened its value creating strategy through
growth and dynamic innovation by enlarging our customer base in existing
markets while providing a complementary product portfolio and
establishing a solid base for growth.”
According to
Luca Pecorara
, Europe Operations Director: “With this
acquisition we will increase the value for our customers, providing
high-end products and improved service by leveraging the best practices
of each company. Endeka’s state of the art facilities will provide the
required capacity to accomplish our growth plans.”
Luca Pecorara
and Jose Cabedo (Endeka COO) will lead the integration of
with the objective of combining the demonstrated technical and
commercial experience of both teams to provide more value to our
customers.
About Endeka Group
Endeka, along with its forerunner companies, headquartered in Castellon, Spain,
has been servicing the ceramics and tile industries for 60 years. Endeka
has established a strong reputation for excellence through innovation
and market leadership. Endeka prides itself on being on the leading edge
of coatings technology and on its dedication to delivering personalized
service to customers. Endeka full-year forecasted 2018 revenues are
approximately €75 million (approximately $88 million) and has
approximately 340 employees who work in 9 facilities in Europe and Asia.
About Ferro Corporation
Ferro Corporation (www.ferro.com)
is a leading global supplier of technology-based functional coatings and
color solutions. Ferro supplies functional coatings for glass, metal,
ceramic and other substrates and color solutions in the form of
specialty pigments and colorants for a broad range of industries and
applications. Ferro products are sold into the building and
construction, automotive, electronics, industrial products, household
furnishings and appliance markets. The Company’s reportable segments
include: Performance Coatings (metal and ceramic coatings), Performance
Colors and Glass (glass coatings), and Color Solutions. Headquartered in
Mayfield Heights, Ohio, the Company has approximately 5,300 associates
globally and reported 2016 sales of $1.15 billion.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171101006972/en/
Source: Ferro Corporation
Ferro Spain, S.A.
Joaquin Mallen, +34 964 504 105
joaquin.mallen@ferro.com