Imerys’ North American Talc Entities Secure Key Approval in Chapter 11 Reorganization Process

Imerys’ North American Talc Entities Secure Key Approval in Chapter 11 Reorganization Process

(IN BRIEF) Imerys’ North American talc subsidiaries have secured over 90% approval from voting claimants for their Plan of Reorganization, marking a key step in their Chapter 11 process. The company now moves toward a confirmation hearing in the second quarter of 2025, after which the U.S. Federal District Court will review and potentially affirm the ruling. Imerys has noted that its financial provisions appropriately cover the expected impact of the plan and the resolution of historical liabilities tied to its North American talc operations.

(PRESS RELEASE) PARIS, 6-Jan-2025 — /EuropaWire/ — On January 5, 2025, Imerys’ North American talc subsidiaries (the “NA Talc Entities”) announced that over 90% of voting claimants have accepted their proposed Plan of Reorganization in the ongoing Chapter 11 process, surpassing the required approval threshold. This follows the vote solicitation process that began in November 2024, after receiving approval for their Disclosure Statement from the U.S. Bankruptcy Court.

Imerys has expressed its satisfaction with this milestone, although several steps remain before the Chapter 11 process is fully concluded. The next phase will involve a confirmation hearing before the Bankruptcy Court, currently scheduled for the second quarter of 2025. Following the Court’s approval of the plan, the U.S. Federal District Court will need to review and affirm the ruling.

Imerys has indicated that the provision reflected in its financial statements remains appropriate, accounting for the anticipated financial impact of the reorganization plan and the settlement of the Group’s historical liabilities associated with its North American talc operations.

Media Contacts:

Analyst/Investor Relations:
Cyrille Arhanchiague
+33 (0)6 07 16 67 26
finance@imerys.com

Press Contacts:
Claire Garnier : +33 (0)1 49 55 64 27
Mathieu Gratiot : +33 (0)7 87 53 46 60
Hugues Schmitt (Primatice) : +33 (0)6 71 99 74 58

SOURCE: Imerys