Ferro forms LCD glass polishing materials JV with rare earth supplier in China

February 17, 2012 – BUSINESS WIRE — Ferro Corporation (NYSE:FOE) entered into joint venture (JV) agreement with China-based rare earth materials refiner Baotou Jin Meng Rare Earth Co. LTD. The JV, Ferro Jinmeng (Suzhou) Polishing Materials Co. Ltd, will manufacture and sell cerium oxide-based polishing materials for liquid crystal display (LCD) and electronics cover glass in China.

Baotou Jin Meng Rare Earth will provide access to high-quality rare earth compounds from its refining operations in Baotou. Ferro’s Surface Technologies business will provide its manufacturing technology, market and applications requirement knowledge.

Manufacturing will take place in Suzhou Office Park, where Ferro has state-of-the-art manufacturing facilities. Ferro expects manufacturing to begin in the second half of 2012.

Ferro will hold a majority ownership interest in the business, which will be registered in Suzhou, China. The joint venture project is subject to approval by regulatory authorities.

Ferro Corporation supplies technology-based performance materials for manufacturers. Internet: www.ferro.com.

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