CLEVELAND--(BUSINESS WIRE)--Ferro Corporation (NYSE:FOE) announced today that it has initiated additional steps in the restructuring of its worldwide Inorganic Specialties Group. As a result of this restructuring and the reduction of approximately 50 employee positions, the Company expects to record a pre-tax charge for employee severance and pension costs of approximately $1.6 million in the fourth quarter ended December 31, 2007, and the Company may record additional charges in future periods. These charges are in addition to those included in the fourth quarter earnings estimates that the Company announced on November 9.
