CLEVELAND (AP) -- Ferro Corp., which makes special materials and chemicals, on Monday said it is reorganizing its business into two separate operating groups, a move it hopes will streamline the company's business.
The company said its new electronics, color and glass materials group will combine its electronic material systems and color and glass performance materials businesses. Operating Vice President Mike Murry will head the new division.
The company's new polymer and ceramic engineered materials group will combine its polymer additives, specialty plastics, performance coatings and pharmaceutical businesses. Operating Vice President Peter Thomas will head this group.
Both units will report to Chairman, President and CEO James F. Kirsch.
Shares of Ferro rose 42 cents, or 5.3 percent, to $8.41 in morning trading. The company's stock has traded between 81 cents and $20.19 in the last 52 weeks.