Imerys Achieves Crucial Milestone in Chapter 11 Process for North American Talc Entities

On January 5, 2025, Imerys' North American talc entities achieved a significant milestone by securing approval from over 90% of voting claimants for their Plan of Reorganization in the ongoing Chapter 11 process. This marks an essential step as it meets the legally required threshold for the plan's progression.

The approval follows a solicitation of votes initiated in November 2024, authorized by the U.S. Bankruptcy Court. The next phase involves a confirmation hearing by the Bankruptcy Court, scheduled for the second quarter. A favorable court decision would require subsequent affirmation by the U.S. Federal District Court.

Imerys is prepared for the financial implications, as current provisions in their financial statements are aligned to cover potential impacts. This process is crucial for resolving historical liabilities related to their North American talc operations.