Ferro: Full year losses decline

Ferro Corporation (Cleveland, Ohio / USA; www.ferro.com) said improvements in its speciality plastics and polymer additives businesses contributed to a reduction in losses in 2009. The US speciality chemical manufacturer reported a loss from continuing operations of USD 40m in 2009 compared with a USD 53m loss a year earlier. Net sales declined 26% to USD 1.66 bn.

Ferro attributed the reduction in its full year loss to lower impairment and restructuring charges, combined with reduced selling, general and administrative (SG&A) expenses. However, these improvements were partially offset by lower sales.

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( Source: PIE - News-Ticker on Plasteurope.com )