Ferro Corp. recently announced it has completed the acquisition of Nubiola Pigmentos on a cash-free and debt-free basis for €149 million (approximately $165 million), subject to customary working capital and other purchase price adjustments.
Nubiola is a worldwide producer of specialty inorganic pigments, and reportedly the world’s largest producer of Ultramarine Blue. Based in Barcelona, Spain, the company employs approximately 750 people and has production facilities in Spain, Colombia, Romania, and India, as well as a joint venture in China.