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December 27th, 2012

News from the glass and refractory ceramics worlds

Published on December 27th, 2012 | By: P. Carlo Ratto

• Vitro has started the process to recover $1.59 billion damages (PDF) caused by lawsuits filed to put Vitro into involuntary bankruptcy, which were dismissed on appeal. The amount claimed corresponds to 20 percent of the total amount claimed at the time by the so-called vulture funds from each of the companies in those proceedings.

Guardian Industries officials confirmed the company has completed the previously announced sale of a minority stake in the business to a subsidiary of Koch Industries. According to a recent Reuters report, Koch now owns a 44 percent share of the glass manufacturer.

Vesuvius has announced that, with effect from Dec. 19, 2012, it is now a stand-alone business, listed on the London Stock Exchange as Vesuvius Plc.

• The European Bank for Reconstruction and Development is providing loans worth €110 million to Turkish glass manufacturer Trakya Cam Sanayii A.Ş. that will expand its product range at home and in Bulgaria and also establish a presence on the Russian market.

Canada Carbon Inc. is pleased to announce that it has entered into a term sheet with Quebec Inc., a private Quebec corporation, to acquire certain mining claims in relation to three properties: the Miller, Walker and Dun Raven graphite mines.


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