×

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.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.