Imerys announces the signing of an agreement with the Brazilian group Vale to acquire its 86.2% stake in the Brazilian company Pará Pigmentos S.A. (PPSA), as well as mining rights in Pará State for a total price of approximately USD 70 million.
Through this operation, Imerys is enhancing its Brazilian resources with a kaolin for paper deposit, a conversion unit and logistic capacities – a pipeline and harbor terminal – located near its Rio Capim Caulim Pigments for Paper industrial activities. This operation will enable the business group to secure its supply of white pigment for global paper and packaging markets and to control its long-term mining costs more effectively.
The acquisition, financed by available resources, was settled on July 26, 2010. It will be consolidated in the Group’s accounts as from August 1, 2010.
Wednesday, 11 August 2010 10:16
Kaolin for paper and packaging assets acquired in Brazil Featured
Ian Melin-Jones
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South American News
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