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.
Vesuvius to sell metals company
28 March 2013 2:42am