Ferro explores strategic options for solar pastes business

theflyonthewall.com

"The market for conductive pastes used in the manufacture of solar cells has been particularly challenging for much of 2011 and 2012 as the solar industry struggles with overcapacity and rapidly falling prices for solar power panels. While we have made some progress in our efforts to develop new customers, the pace at which we have been able to achieve new product qualifications at the larger solar cell manufacturers has been insufficient to generate the sales volume needed to contribute adequate value to our shareholders," said Ferro Chairman, President and CEO James Kirsch. "We are now exploring strategic options for our solar pastes business in an effort to eliminate its drag on our earnings and cash flow. When combined with our commitment to reduce operating expenses across all of our businesses, we believe we are on a path to deliver improved shareholder value."

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