Imerys Announces Significant Improvement in 2017 Results
The current operating income up by 11,3 % to EUR 648 million and the operating margin has been improved to 14,1 %. On 18 July 2017, Imerys closed the acquisition of Kerneos, the world leader in high-performance calcium aluminate binders for the growing building chemicals market. Kerneos develops high performance binders that contribute key properties (rapid hardening, self-leveling, sealing and wear, abrasion or heat resistance) to its customers’ innovative solutions for the construction (screed and adhesive tiles mortars, etc.), civil engineering (sewage system infrastructure, etc.) or refractories (protection of blast furnaces, thermal power plant, etc.) sectors. This operation enables the Group to strengthen its innovation capability with a world-class technology platform (two R&D centres in France and China) and to step up its presence in China with three new plants.
Kerneos is consolidated as of 18 July 2017 and is already contributing to Imerys’ development. After its implementation in Imerys Refractory Minerals, the two activities form now the Imerys Aluminates Division. The Group confirms its value creation targets, including annual synergies estimated at EUR 23 million within 3 years. Imerys also completed several bolt-on acquisitions in 2017, which contributed for EUR 133 million to revenue for the financial year and enabled the group to broaden its specialty offering and develop its geographic presence in emerging countries such as Brazil, India and particularly China, where the Group now generates more than 7 % of its revenue.