Ferro Corporation (FOE) has entered into a definitive agreement to acquire Endeka Group, a global producer of high-value coatings and key raw materials for the ceramic tile market.
In a separate transaction, Ferro has also acquired a majority interest in Gardenia Quimica, which also supplies the ceramic tile market. Both privately held companies are headquartered near Ferro’s facilities in Castellon, Spain, a major hub of the worldwide ceramics market.
The total transaction value of Endeka’s acquisition was for approximately €64 million (approx $75 million) and is expected to be completed in the fourth quarter
Endeka produces frits and glazes, digital inks and colours used in the manufacture of a broad range of ceramic products, including tile, tableware and sanitary ware. This transaction backwards integrates Ferro into certain key raw materials used in the manufacture of ceramic coating materials. Endeka has approximately 340 employees who work in 9 facilities in Europe and Asia.
The Gardenia Quimica transaction was completed on 3 August. Gardenia Quimica has 26 employees and produces mediums, additives, binders, and other ancillary products for the tile coatings industry. Gardenia’s products enable Ferro to further backwards integrate into a number of materials used by Ferro and its customers in the manufacture of tile coating products.
Ferro Corporation (FOE) has entered into a definitive agreement to acquire Endeka Group, a global producer of high-value coatings and key raw materials for the ceramic tile market.
In a separate transaction, Ferro has also acquired a majority interest in Gardenia Quimica, which also supplies the ceramic tile market. Both privately held companies are headquartered near Ferro’s facilities in Castellon, Spain, a major hub of the worldwide ceramics market.
The total transaction value of Endeka’s acquisition was for approximately €64 million (approx $75 million) and is expected to be completed in the fourth quarter
Endeka produces frits and glazes, digital inks and colours used in the manufacture of a broad range of ceramic products, including tile, tableware and sanitary ware. This transaction backwards integrates Ferro into certain key raw materials used in the manufacture of ceramic coating materials. Endeka has approximately 340 employees who work in 9 facilities in Europe and Asia.
The Gardenia Quimica transaction was completed on 3 August. Gardenia Quimica has 26 employees and produces mediums, additives, binders, and other ancillary products for the tile coatings industry. Gardenia’s products enable Ferro to further backwards integrate into a number of materials used by Ferro and its customers in the manufacture of tile coating products.
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