CLEVELAND--(BUSINESS WIRE)--Ferro Corporation (NYSE: FOE), a leading global provider of functional coatings and color solutions, has announced it is making investments in its Ferro Pigments business to increase capacity and optimize production of its Ultramarine pigments product lines.
“As a global leader in Ultramarine pigments, we are committed to meeting growing demand for our products and enabling the success of our customers through continuous innovation, supply of high-quality products, and through superior technical support and service,” said Matthias P. Bell, Vice President, the Americas and Color Solutions. “This comprehensive program will be implemented globally over the next 18 months, with immediate focus on increasing capacity for high-grade product lines and optimizing production by early 2018.”
In addition to increasing capacity, investments will focus on equipment and technology upgrades supporting environmental/health/safety, quality, and future product development objectives.
Ferro is the world’s largest producer of Ultramarine Blues, Violets and Pinks. It produces Ultramarine pigments at plants in Llodio, Spain; Doicesti, Romania; Girardota, Colombia; and Chennai, India.
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. Headquartered in Mayfield Heights, Ohio, the Company has approximately 5,155 associates globally and reported 2016 sales of $1.15 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 expansion and optimization initiatives, including those related to manufacturing of Ultramarine pigments, and to produce the desired results; Ferro’s ability to successfully introduce new products or enter into new growth markets; the availability of reliable sources of energy and raw materials at a reasonable cost; and 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 Ferro’s 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 Ferro’s Annual Report on Form 10-K for the year ended December 31, 2016.