August 21, 2017

Imerys merger with French cement maker Kerneos approved

The Competition Commission SA has approved with conditions the intermediate merger of Imerys and Ken Tech 1. Imerys is engaged in the mining and processing of various industrial and manufacturing sectors with four andalusite mines operating in South Africa.  Imerys  intends to acquire Kern Tech 1, a holding company of the Kerneos Group (Kerneos).

The industrial minerals (Imerys) group has been seeking to expand its offering of speciality materials for the construction, infrastructure and refractories industries by joining forces with cement maker Kerneos, which owns operations in four continents.

Imerys has since proposed the acquiring of  Kerneos for an estimated  price of €800m ($845m) since 2016.

The Kerneos group is a global producer and supplier of specialty cements for a wide range of sectors in particular the building chemistry and refractory sector, with specific expertise in calcium aluminate technology which produces calcium aluminate cement.

In South Africa, Kerneos Southern Africa also supplies specialty cements for a wide range of sectors in particular the building chemistry and refractory sector, with specific expertise in calcium aluminate technology.

The proposed transaction is approved with a condition that restricts the number of merger specific retrenchments. In addition, the merging parties should implement measures to assist the affected employees with reemployment opportunities.

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Time limit is exhausted. Please reload the CAPTCHA.