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[February 2007]
Imerys Launches Bid for UCM
Imerys has announced the launch of a friendly bid for UCM Group PLC, a British group listed on the London Stock Exchange.UCM Group's board of directors has unanimously recommended that its shareholders accept the offer. With market estimated sales of €55 million in 2006, two sites in Great Britain and two in the United States, UCM Group PLC is one of the world's leading producers of fused zirconia for the refractories, advanced ceramics and automotive industries, as well as fused magnesia, which is primarily used in the manufacture of electrical heating elements.
This acquisition would enable Imerys to broaden its range of fused minerals, a segment in which it is already active through its subsidiary Treibacher.
Imerys said that, launched on the basis of 85 pence per share, the public purchase bid values UCM Group PLC at €48 million, i.e. 7.4 times its market estimated 2006 EBITDA.
www.imerys.com
ENDS