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Magris Resources to Acquire North American Talc Assets for USD 223m
Friday 16 October 2020

Magris Resources Canada Inc. has entered into a definitive stalking-horse agreement to acquire substantially all the assets of talc producer Imerys Talc America Inc., Imerys Talc Vermont Inc. and Imerys Talc Canada Inc. (collectively, the North American Talc Business) for USD 223m, the company said.

The North American Talc Business is being sold under proceedings commenced by the sellers under Chapter 11 of the United States Bankruptcy Code and the Companies' Creditors Arrangement Act.

The agreement will become fully effective and legally binding after the relevant United States and Canadian courts issue orders to approve it.

The North American Talc Business is North America's premier producer of talc, which is a critical performance-enhancing ingredient used in a variety of industrial applications. Its operations consist of three long-life mines and six processing facilities located in the United States and Canada.

Magris was founded to acquire, develop and operate industrial minerals and mining assets on a global basis. Magris owns and operates Niobec, a Quebec-based producer of niobium, which is a critical element used in the production of high-strength, low-alloy steels.
Date Published: 16/10/2020