Ferro Corp. Completes Vetriceramici Acquisition - Quick Facts

(RTTNews) - Ferro Corp. (FOE) announced it has completed the acquisition of tile coating manufacturer Vetriceramici S.p.A. for 83 million euros. The acquisition was announced on September 21, 2014. The all-cash transaction was funded with excess cash and borrowings under the company's existing revolving credit facility.

Ferro Corp. expects the acquisition to be accretive to adjusted earnings per share by $0.12 to $0.14 in 2015.

Vetriceramici was owned by Milan, Italy-based Private Equity Funds' Management Company Star Capital SGR S.p.A. and other related minority owners.