Vesuvius to sell metals company

March 28, 2013, 02:42am

Ceramics firm Vesuvius yesterday said it is to sell its precious metals business to Heimerle + Meule, a subsidiary of German supplier Possehl, for €56.8m (£48m). Vesuvius, which split from Cookson last year, said the earnings would be returned to its shareholders through a share repurchase and used to reduce its existing debt. Chief executive Francois Wanecq said the sale left Vesuvius focused on its core molten metal engineering business.

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