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Ames Acquires Ferro Metal Powders Divison

 

 

For Immediate Release Ames Goldsmith Corporation announced today that it has acquired the precious metals-based powder and flake product lines of Ferro Corporation’s Metal Powders business units in North America and Asia, through its newly formed Ames Advanced Materials Corporation. The transaction includes manufacturing assets and inventory in South Plainfield, New Jersey as well as in Tsukuba, Japan. Ferro Corporation (http://www.ferro.com) is a leading global supplier of technology-based performance materials and chemicals for manufacturers. Ferro products are sold into the building and construction, automotive, appliances, electronics, household furnishings, and industrial products markets. Headquartered in Mayfield Heights, Ohio, the Company has approximately 4,380 employees globally and reported 2012 sales of $1.8 billion.

 

AMES GOLDSMITH ANNOUNCES ACQUISITION OF FERRO CORPORATION’S PRECIOUS METAL POWDER AND FLAKE OPERATIONS IN NORTH AMERICA AND ASIA

 

  Expands Ames’ precious metals products business globally

 

Transaction executed through Ames Advanced Materials Corporation, a new subsidiary of Ames Goldsmith Corporation

 

SOUTH GLENS FALLS, NY—October 31, 2013—

In addition to the asset sale transaction, Ames and Ferro also entered into a multi-year supply agreement.

Frank Barber, President of Ames Goldsmith, commented "We are encouraged by the increased value that this acquisition brings to both our existing and future customers. Expanded powder and flake capabilities will allow us to further provide market leading technology, and first class products, in the form of Precious Metal Powders, to the Photovoltaic, Electronics, and the many other markets that we serve. We are very fortunate to have such a talented group of employees and managers joining our team, and with the full support of our current global resources, Ames Advanced Materials Corporation is well positioned to meet the growing requirements of our customers."

Ames Goldsmith was advised by Manning Advisors and ChamberlainD’Amanda.

 

About Ames Goldsmith Corporation

 

Founded in 1860, Ames Goldsmith Corporation has been in continuous operation as a silver refiner and fabricator for more than 150 years. Today, with five (5) global sites, and an annual

silver consumption in excess of 100 million troy ounces, Ames is one of the largest integrated silver fabricators in the world. Ames Goldsmith is based in South Glens Falls, New York.

 

About Ferro Corporation

 

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This Story Was Updated: 11/1/2013

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