CLEVELAND - Ferro Corp., Mayfield Heights, OH, has completed the acquisition of Barcelona-based Nubiola for €149 million (approximately $165 million), subject to customary working capital and other purchase price adjustments. The acquisition was previously announced on April 29, 2015.
Nubiola is a worldwide producer of specialty inorganic pigments and the world’s largest producer of ultramarine blue. Other products include specialty iron oxides, chrome oxide greens and corrosion inhibitors. Nubiola employs approximately 750 people, including temporary employees, and has production facilities in Spain, Colombia, Romania, and India and a joint venture in China.
Ferro’s Antonio Patrocinio, who is managing the integration of Nubiola into Ferro, said, “We are very excited to combine the strengths of our two companies and deliver world-class color solutions to a broad range of global markets. For Nubiola customers, the acquisition should be seamless, as they will continue to work with their regular sales, technical and customer service contacts.”
Nubiola will continue to operate under the Nubiola name, co-branded with the Ferro name.
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