Imerys North American units complete sale to Magris Resources Canada

By Sarah Lizee

Olympia, Wash., Feb. 17 – Imerys Talc America, Inc., Imerys Talc Vermont and Imerys Talc Canada completed the sale of substantially all of their assets to affiliates of Magris Resources Canada Inc., according to a press release issued Wednesday.

The U.S. assets and related operations are now owned by Magris Talc USA, Inc. and the Canadian assets and related operations are now owned by Magris Talc Canada Inc.

The U.S. Bankruptcy Court for the District of Delaware approved the sale, which includes an agreement to assume certain assumed liabilities, on Nov. 16 as part of the debtors' ongoing Chapter 11 process.

The Canadian court granted recognition of the sale on Nov. 25.

As previously reported, Magris agreed to pay $223 million for the assets.

Imerys is a Paris-based producer of industrial materials. Its subsidiaries filed bankruptcy on Feb. 13, 2019 under Chapter 11 case number 19-10289.

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