Imerys from France in the United States signs an agreement to settle its talc-related debts

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PARIS (Reuters) – French manufacturing and mineral group Imerys SA (IMTP.PA), whose talc unit in North America filed for bankruptcy after being sued for cancer, said on Friday that it had reached an agreement to resolve these talc debts.

“Today’s announcement marks an important step towards a permanent resolution of the historic liabilities associated with talc,” said CEO Alessandro Dazza.

Imerys said the group’s contribution to the problem-solving plan would consist of a minimum cash payment of $ 75 million, and an additional amount of up to $ 102.5 million subject to a reduction mechanism proportional to the sale price. assets of its North American talc. subsidiaries.

Imerys said the agreement was filed with the United States bankruptcy court in the district of Delaware and was to lead to the sale of the assets of its talc subsidiaries in North America.

Imerys’ talc division in North America filed for bankruptcy after being involved in Johnson & Johnson-related cancer lawsuits (JNJ.N) baby powder.

Imerys and J&J have repeatedly denied claims about talc, claiming that numerous studies and tests by regulators around the world have shown their talc to be safe.

Report by Sudip Kar-Gupta; edited by Tom Hogue and Jason Neely

Our standards:Principles of the Thomson Reuters Trust.

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