Luzenac Talc Group

Imerys makes binding offer for Rio Tinto’s Luzenac Talc Group

24.02.2011 | Editor: Marcel Dröttboom

Imerys made a binding offer and entered exclusive discussions with Rio Tinto for the acquisition of the Luzenac Talc Group.

Paris, France – Imerys announced that it has entered into exclusive negotiations with Rio Tinto and made a binding offer for the acquisition of 100 per cent of the Luzenac Talc Group, a major supplier of talc, for an enterprise value of USD 340 million.

In line with its growth strategy, Imerys would enlarge its portfolio of activity with talc, a mineral for which the Group would become a significant player. This acquisition would allow Imerys to develop its activities, notably in polymers, paints, ceramics and paper.

With about 1000 employees, Luzenac Group achieved gross sales of approximately USD 340 million in 2009, mainly in Europe and North America. With industrial operations in Europe, North America and Asia, the Luzenac Group has high-quality reserves on these three continents. Imerys could extend this geographic presence leveraging its own worldwide footprint.

Execution of this acquisition remains subject to the completion of certain preliminary steps, in particular with respect to personnel representation bodies and to the approval by the relevant regulatory authorities. Its completion could become effective by midyear 2011.