Ferro transfers production from Portugal to Spain
Ferro will make additional restructuring initiatives that are expected to further reduce costs of the company's European manufacturing operations.
Ferro expects to discontinue manufacturing in Castanheira, Portugal. This action represents the final step in consolidation of high-volume into the company's manufacturing site in Almazora, Spain.
The company plans to consolidate plastics manufacturing from Portugal to its existing plastics production facility in Almazora, Spain. Because of the manufacturing consolidation, the number of selling, general and administrative positions in Portugal are expected to be reduced as well. In total, approximately 125 positions are expected to be eliminated when the initiatives are completed by August 2010. Ferro continues to manufacture certain metal oxides in Portugal that are not affected by this announcement.
The company plans to consolidate plastics manufacturing from Portugal to its existing plastics production facility in Almazora, Spain. Because of the manufacturing consolidation, the number of selling, general and administrative positions in Portugal are expected to be reduced as well. In total, approximately 125 positions are expected to be eliminated when the initiatives are completed by August 2010. Ferro continues to manufacture certain metal oxides in Portugal that are not affected by this announcement.
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