Vesuvius to sell metals company

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.