Ferro to draw from revolver for $39 million Al Salomi acquisition

By Wendy Van Sickle

Columbus, Ohio, Sept. 3 – Ferro Corp. will borrow under its revolving credit facility to fund part of its $39 million purchase of Al Salomi for Frit and Glazes, according to a press release.

The transaction will also be partly funded by excess cash and is expected to close within the next 60 days.

Based in Mayfield Heights, Ohio, Ferro is a global supplier of technology-based performance materials, including glass-based coatings, pigments and colors and polishing materials.

Al Salomi is a tile coatings manufacturer based in Suez, Egypt.

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