Imerys: acquisition in Turkey
(CercleFinance.com) - Imerys has announced signing an agreement to acquire a majority stake of 60%, with options to buy the remaining capital, in the Turkish group Haznedar, a manufacturer of high quality monolithic refractories and refractory bricks.
Serving the steel, cement and petrochemicals industries, this activity generated sales of 64 million dollars (of which 40% in exports), with EBITDA of 17 million dollars in 2019. It will complement Imerys' current offering and strengthen its position on the Turkish market.
The transaction, which is subject to antitrust approvals, is expected to close in the fourth quarter of 2020. This business will then be fully consolidated in Imerys' High Temperature Solutions business.
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