One of the world’s leading provider of functional coatings and color solutions, Ferro Corporation, based in Cleveland, has acquired Dip-Tech which is one of the global leader’s in providing digital ceramic in-glass printing solutions, based in KfarSaba, Israel. Ferro Corp. paid $60 million, without including the customs adjustments and fees for the acquisition.
Peter Thomas, chairman, president and CEO of Ferro Corp, was quoted saying how the acquisition is vital for the next phase of their value creation strategy. He added, “Combining the strengths of Ferro and Dip-Tech will enable us to better serve customers by providing them with a complete, optimized solution of printers, software, inks, and service. With Ferro’s extensive colors, ink development, production, and logistics capabilities, and with Dip-Tech’s technology and know-how, we are equipped to further enhance customers’ productivity, efficiency and business opportunities.”
Alon Lumbroso, Chief Executive of Dip-Tech, says that they are happy to expand their services to the global glass market and being able to present the wide range of products and cutting-edge technologies that Dip-Tech specialises in.
Both will be exhibiting at the GlassBuild America exhibition scheduled to take place between 12-14 September, 2017.