Magris Acquires Imerys North America Talc Assets

Magris Resources Canada Inc of Toronto, ON has entered into a definitive stalking horse agreement to acquire substantially all of the assets of Imerys Talc America Inc, Imerys Talc Vermont Inc and Imerys Talc Canada Inc for US$223 million. The three companies voluntarily sought Chapter 11 protection from talc-related litigation last year. The North American...

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Imerys Limits Impact of Weaker Global Markets

Imerys SA of France has reported first half 2020 net income of €72.8 million (US$85.3 million) on revenue of €1.90 billion (US$2.23 billion) compared with €158.7 million (US$186.0 million) on revenue of €2.26 billion (US$2.65 billion) in the first half of 2019. The COVID-19 pandemic caused a sharp drop in demand across all geographies and...

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MTI Buoyed by Strength of Consumer Market

Minerals Technologies Inc (MTI) of New York, NY has reported net income of US$14.4 million on net sales of US$357.2 million in the second quarter of 2020 compared with US$26.6 million on sales of US$463.8 million in the corresponding quarter of 2019. The company incurred special charges of US$14.6 million after-tax in the second quarter....

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Elementis Talc Business Hit by Lower Volumes

Elementis plc of England has reported a first half 2020 loss of US$51 million on revenue of US$387 million, down from a profit of US$40 million on revenue of US$450 million in the first half of 2019. The company’s talc business generated an operating profit of US$6.2 million on revenue of US$60.9 million versus US$10.4...

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MTI’s Cost Control Counters Weak Markets

Minerals Technologies Inc (MTI) of New York, NY has reported a fourth quarter 2019 net income of US$29.0 million on sales revenue of US$440.2 million versus US$43.1 million on sales revenue of US$447.5 million in the fourth quarter of 2018. The company notes double digit operating margins across all segments in the fourth quarter and...

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