Ferro Corporation has announced additional restructuring initiatives that are expected to further reduce costs of the company's EU manufacturing operations. The initiatives include restructuring & cost-reduction activities funded through Ferro's equity offering Nov/09 along with the continuation of a multi-year restructuring effort announced 2006. As a result of the new initiatives, Ferro expects to discontinue manufacturing of dinnerware frit materials in Castanheira, Portugal, representing the final step in consolidation of high-volume frit production into the company's site in Almazora, Spain. Further plans include the consolidation of its plastics manufacturing from Portugal to existing plastics production facility in Almazora, Spain & in total, approx. 125 positions are expected to be eliminated when the initiatives are completed by August 2010.
