Report
Eric Lemarie

IMERYS: We appreciate the move, but other challenges remain | SELL | EUR27 vs. EUR23 (-5%)

IMERYS - SELL | EUR27 vs. EUR23 (-5%)
We appreciate the move, but other challenges remain

Talc legal issue: a serious step in the right direction
The current provision is very likely to be sufficient
EUR4 positive impact on our valuation
But end-market uncertainties have not disappeared
Underlying
Imerys SA

Imerys is engaged in the production and the processing of minerals. Co.'s operations can be divided into four business groups: Minerals for Ceramics, Refractories, Abrasives and Foundry (minerals mainly for floor tiles, sanitaryware, porcelain, mobile energy as well as high-temperature and abrasive industries); Performance and Filtration Minerals (plastics, rubber, coatings, sealants and adhesives, health, beauty and filtration of nutrition liquids); Pigments for Paper (filler and coating products for paper) and Materials and Monolithics (construction materials in clay and slate and monolithic products and solutions for high-temperature industries).

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Eric Lemarie

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