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CTT-Refractory and glass news

Published on December 16th, 2014 | By: P. Carlo Ratto

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News from the glass and refractory ceramics world

Published on December 16th, 2014 | By: P. Carlo Ratto

Saint-Gobain to sell Verallia group, acquire controlling interest in Sika (pdf)

Saint-Gobain plans to sell the rest of its Verallia glass packaging group by mid-2015. Earlier this year, it sold the unit’s North American unit to Ardagh, and had received numerous marks of interest from funds as well as industrial companies. Saint-Gobain has been looking to shed Verallia for years to focus on higher-margin home and construction products, but previous attempts to sell or spin off the unit were thwarted by the financial crisis. The company also said it plans to buy a controlling stake in construction chemicals group Sika for around 2.3 billion euros ($2.83 billion); the Burkard family, Sika’s current majority shareholder, decided to sell its controlling stake to Saint-Gobain through its holding Schenker Winkler Holding. Sika, based in Switzerland, however, said in a separate statement that it did not support the change of control and that the company’s management would resign if the deal went through.

 

Ferro Corporation completes acquisition of tile coating manufacturer

Ferro Corporation announced that it has completed the acquisition of tile coating manufacturer Vetriceramici S.p.A. for €83 million (approximately $104 million), subject to customary working capital and other purchase price adjustments. Vetriceramici, based in Casola Valsenio, Italy, is a leading supplier of ceramic coatings to high-end tile manufacturers. Ferro Corporation is a leading global supplier of technology-based performance materials, including glass-based coatings, pigments and colors, and polishing materials.


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