Ferro Adding Manufacturing Capacity for Ultramarine Blue and Micronized Iron Oxide Pigments
July 18 2018 - 9:00AM
Business Wire
Ferro Corporation (NYSE: FOE) is expanding its production
facility in Girardota, Colombia, to meet increasing global demand
for its Ultramarine Blue and Micronized Iron Oxide pigments.
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the full release here:
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Ferro’s Ultramarine Blue pigments are
used in multiple applications, including plastics. Ferro is a
leading global producer of Ultramarine pigments and is expanding
capacity at its Girardota, Colombia, facility to meet growing
demand for its Ultramarine Blue product line. (Photo: Business
Wire)
“As a global leader in inorganic and organic pigments, including
Complex Inorganic Color Pigments, Ferro is committed to meeting
growing demand for our products and enabling the success of our
customers through innovative and high-quality products, reliable
supply, and superior technical support and service,” said Matthias
P. Bell, Vice President, the Americas and Color Solutions.
“We plan to be producing significantly higher volumes of our
Ultramarine Blues and Micronized Iron Oxides by early 2019 through
this expansion project in Colombia. We will be adding state-of-art
technologies to ensure premium product quality, as well as
manufacturing efficiency, environmental protection, and safety.
This investment gives continuity to the strategy we announced a
year ago to expand our global capacity in high performance
Ultramarines as we continue to meet our customers’ needs anywhere
in the world.”
Ferro is a leading producer of Ultramarine Blues, Violets and
Pinks. In addition to Girardota, it produces Ultramarine pigments
in Llodio, Spain, Doicesti, Romania, and Chennai, India. Ferro’s
Micronized Iron Oxides, which are mostly used in specialized
plastics and coatings applications, are produced in Girardota.
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 5,660 associates globally and reported 2017 sales of
$1.4 billion.
Cautionary Note on Forward-Looking Statements
Certain statements in this press release may constitute
“forward-looking statements” within the meaning of federal
securities laws. These statements are subject to a variety of
uncertainties, unknown risks, and other factors concerning the
Company’s operations and business environment. Important factors
that could cause actual results to differ materially from those
suggested by these forward-looking statements and that could
adversely affect the Company’s future financial performance include
the following:
- demand in the industries into which
Ferro sells its products may be unpredictable, cyclical, or heavily
influenced by consumer spending;
- Ferro’s ability to successfully
implement and/or administer its optimization initiatives, including
its investment and restructuring programs, and to produce the
desired results;
- the planned expansion could be delayed
or adversely impacted by construction delays, unanticipated
increase in costs, Ferro’s ability to obtain necessary regulatory
approvals or issues with quality testing of new production
facilities;
- currency conversion rates and economic,
social, political, and regulatory conditions in the U.S. and around
the world;
- challenges associated with a
multi-national company such as Ferro competing lawfully with local
competitors in certain regions of the world;
- Ferro’s ability to successfully
introduce new products and services or enter into new growth
markets;
- the availability of reliable sources of
energy and raw materials at a reasonable cost;
- increasingly aggressive domestic and
foreign governmental regulation of hazardous and other materials
and regulations affecting health, safety and the environment;
- competitive factors, including intense
price competition;
- sale of products and materials into
highly regulated industries;
- our ability to address safety, human
health, product liability and environmental risks associated with
our current and historical products, product life cycle and
production processes;
- limited or no redundancy for certain of
the Company’s manufacturing facilities and possible interruption of
operations at those facilities;
- risks associated with the manufacture
and sale of material into industries making products for sensitive
applications;
- exposure to lawsuits, governmental
investigations and proceedings relating to current and historical
operations and products;
- other factors affecting the Company’s
business that are beyond its control, including disasters,
accidents and governmental actions.
The risks and uncertainties identified above are not the only
risks the Company faces. Additional risks and uncertainties not
presently known to the Company or that it currently believes to be
immaterial also may adversely affect the Company. Should any known
or unknown risks and uncertainties develop into actual events,
these developments could have material adverse effects on our
business, financial condition and results of operations.
This release contains time-sensitive information that reflects
management’s best analysis only as of the date of this release. The
Company does not undertake any obligation to publicly update or
revise any forward-looking statements to reflect future events,
information, or circumstances that arise after the date of this
release.
Additional information regarding these risks can be found in our
Annual Report on Form 10-K for the year ended December 31,
2017.
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version on businesswire.com: https://www.businesswire.com/news/home/20180718005133/en/
Ferro CorporationMary Abood, 216-875-5401Director, Corporate
Communicationsmary.abood@ferro.com
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