Ferro Acquired the Digital Glass Printing Provider Dip-Tech
7 August, 2017
Ferro Corporation will pay $60 million for the Israeli Dip-Tech, who has developed a new kind of Ceramic Ink and produce dedicated digital printers
Ferro Corporation has acquired Dip Tech Ltd. from Kfar Saba, Israel for approximately $60 million. Ferro said it expects a Return on Invested Capital of more than 15% within the first five years of the acquisition. Peter Thomas, Chairman, President and CEO of Ferro Corporation, said the deal brings Ferro a fully commercialized and patent-protected digital glass printing business. “Dip-Tech’s digital glass printing technology is attracting customers because of the high-precision, multicolored effects possible with durable glass-based inks. Their technology know-how and patent portfolio are unmatched in the industry. Alon Lumbroso, Chief Executive of Dip-Tech, said that following the acquisition the company will present the glass markets “with a wider range of leading-edge products and capabilities.”
Dip-Tech provides digital printing technologies for glass applications with strict functional requirements, such as windshield and side glass used in the transportation and automotive markets. It has developed a Digital Ceramic Glass Printers base on a patented ceramic inks and proprietary image processing software. The inks are fused into the glass during the tempering or annealing process, creating vivid designs. It was proven outdoors in thousands of projects around the globe and on millions of automotive glasses for over 10 years, Dip-Tech digital ceramic inks also add functionality such as solar control, light diffusion and transmission to glass.
Ferro Corporation is a global supplier of technology-based functional coatings and color products. It supplies functional coatings for glass, metal, ceramic and other substrates and color solutions in the form of specialty pigments and colorants for a broad range of industries and applications. The 5,230 employees company is headquartered in Mayfield Heights, Ohaio, USA. It is valued $1.6 billion in NYSE Stock Exchange. During fiscal year 2016 its sales increased 6.5% to $1.15 billion.
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