Ferro says it has entered into a nonbinding agreement to divest its specialty plastics unit. The buyer was not named. The deal, which is expected to close in third-quarter 2006, is subject to the negotiation of definitive agreements as well as other conditions. The unit to be sold had sales last year of about $270 million. It develops and produces customized thermoplastic compounds and alloys, plastic colorants, gel coats, and thermoset pastes used in a range of products.