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[Sep 2005]
Update on DAM Acquisition
Imerys announced on 22 September 2005 that it had signed a definitive agreement with the Nord Est group for the acquisition of 99.7% of its subsidiary Denain-Anzin Minéraux (DAM).
The price paid for the shares owned by Nord Est at this date will be 53.2€ million, to which the company's net financial debt (25.3€ million as at 30 June 2005) is to be added. This represents multiples of 0.9x 2004 sales and 6.2x 2004 EBITDA (IFRS, before management fees).
DAM produces kaolins, feldspars, micas and quartz from industrial facilities located mostly in France, as well as in Spain, Italy, Portugal and Germany. Active in the European markets of minerals for ceramics, fibreglass and paint, DAM achieved sales of approximately 85€ million in 2004.
www.imerys.com
ENDS