Imerys SA is pleased to announce that the Plan of Reorganization ('the Plan') proposed by the North American talc entities (Imerys Talc America, Imerys Talc Vermont and Imerys Talc Canada) has received the necessary majority support (approximately 79.7%) from the voting creditors and claimants in the U.S talc related litigation to meet the 75% approval threshold required under the relevant statutory provisions applicable to their Plan.
This is an important milestone towards the resolution of historic liabilities related to talc in the United-States. The next step in the Chapter 11 process of the relevant talc entities will be the confirmation hearing on the Plan by the relevant US. District Court ( Delaware), which is expected this summer.
The world leader in mineral-based specialty solutions for industry, with EUR3.8 billion revenue and 16,400 employees in 2020, Imerys delivers high value-added, functional solutions to diversified set of industrial sectors, from processing industries to consumer goods. The Group draws on its knowledge of applications, technological expertise and its material science know-how to deliver solutions based on beneficiation of its mineral resources, synthetic minerals and formulations. These contribute essential properties to customers' products and performance, including refractoriness, hardness, conductivity, opacity, durability, purity, lightness, filtration, absorption and repellency. Imerys is determined to develop responsibly, in particular by fostering the emergence of environmentally-friendly products and processes.
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