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Business
Ferro Sells Solar Business To Heraeus
by Marc S. Reisch
February 11, 2013
| A version of this story appeared in
Volume 91, Issue 6
Ferro has sold its solar paste business to precious metals and technology firm Heraeus. Financial details were not disclosed, but Ferro says the sale will eliminate $17 million of “negative drag” on its earnings. Solar paste sales have plummeted along with sales of photovoltaic panels. The deal follows demands by investor group FrontFour Capital that financially ailing Ferro immediately sell the paste operation (C&EN, Feb. 4, page 6). A spokesman for Heraeus says the company was mainly interested in Ferro’s intellectual property. DuPont sued Heraeus twice in the past two years for violating its solar paste patents.
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