Ferro Corp. announced that it will be taking additional restructuring actions to reduce costs related to its European plastics manufacturing. The action is the latest restructuring step in a group of projects that were initiated in connection with Ferro's equity offering this past November.
As a result of this action, plastics manufacturing in Rotterdam, the Netherlands, will be consolidated into Ferro's existing operations in Almazora, Spain and the Rotterdam plant will be closed. The actions are expected to be completed by June 30, 2010.
"We continue to take actions to optimize our cost structure around the world in order to best serve our customers with high-quality, cost-effective products," says Peter Thomas, Ferro’s VP, Polymer and Ceramic Engineered Materials.
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