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Business

... While Ferro Cuts Brazilian Assets

June 30, 2008 | APPEARED IN VOLUME 86, ISSUE 26

Ferro has stopped manufacturing tile frits and tile color products at its plant in Americana, Brazil, to reduce operating costs. Ferro says it will save about $2.5 million annually. The company expects to take a charge against earnings of $1.4 million, part of which will fund severance payments for the 73 workers who lost their jobs. Ferro says it will continue to produce porcelain enamel frit and glass color and glaze products at the Americana site.

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