Imerys Completes Disposal of Paper Market Assets

Imerys announced the completion of the sale of its paper market assets to an affiliate of Flacks Group, a US investment firm, for a net equity value close to €150 million. The payment is staged over time and based on the future performance of the business.

The disposed activities involve approximately 900 employees across 24 plants in the Americas, Asia, and certain locations in Europe. In 2023, these activities generated about €370 million in sales.

The related translation reserve, mainly due to the devaluation of the Brazilian Real, will be recycled to the income statement as per IFRS standards, resulting in a non-cash loss of around €300 million. This will be reflected in the third quarter financial statements ending September 30, 2024.

This divestiture marks a significant step in Imerys' strategy to focus on high-growth, value-creating businesses. The Group aims to concentrate on specialty minerals solutions, particularly in markets like the energy transition, sustainable construction, and natural consumer goods solutions.