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Business

Ferro shores up finances

June 12, 2006 | A version of this story appeared in Volume 84, Issue 24
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Ferro Corp., which is recovering from the effects of an accounting problem in one of its businesses, has named new accountants and completed a new credit agreement. Ferro says it has engaged Deloitte & Touche as its new public accountant, replacing KPMG, which it dismissed in May. The Cleveland-based firm also says it has finalized a new $250 million line of credit and $450 million in term loans. Ferro recently said it is in talks to sell its specialty plastics unit.

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