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.

“We are excited about the Nubiola acquisition and the opportunities it provides to drive shareholder value, enhance our current position in inorganic pigments, and accelerate our strategy to become a leading global functional coatings and color solutions company,” said Peter Thomas, chairman, president and CEO.

For more information, visit www.ferro.com.