Imerys: green light for North American talc reorganization

(CercleFinance.com) - Imerys reports that the U.
S. federal court with jurisdiction over the Chapter 11 proceedings of its North American talc subsidiaries has approved their proposed reorganization plan and authorized its submission to a vote of the relevant creditors and plaintiffs.

'The outcome of this vote is expected in the coming months. If positive, it would bring the North American talc entities closer to definitive closure of their Chapter 11 proceedings', says the mineral specialties group.

The provision booked in Imerys' consolidated financial statements is deemed adequate to cover the financial consequences of this plan and the resolution of historical liabilities related to the group's talc activity in the United States.

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