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BRIEF-Ferro to restructure European dielectrics business, cut jobs


May 10 (Reuters) - Ferro Corp: * Announces restructuring of European dielectrics business * Says approximately 120 positions are expected to be eliminated as a result of the restructuring * Says actions are expected to be completed by the end of 2010 * Says expects to record net charges of approximately $13 million during 2010 * Says initiatives are expected to generate pre-tax cost and expense savings of approximately $6 million on an annual basis * Says manufacturing in uden, will be transferred to other locations, or discontinued and site will be closed ((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780)) (For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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