Imerys Announces Reorganization of Its UK Kaolin Operations.PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. -- Imerys is today announcing a reorganization of its UK kaolin kaolin (kā`əlĭn): see china clay. business to ensure the future of its operations in the southwest of England. Energy accounts for a significant portion of Imerys costs in the UK and with energy prices sharply surging over the past year, the competitiveness of the UK kaolin platform has been dramatically impaired. In that context, Imerys will stop manufacturing paper coating grades in Cornwall by the end of 2007. The paper operations in Cornwall will focus on the production of paper filler kaolins, for which its natural kaolin reserves are best suited. Imerys' production capacity for coating grades in Brazil will be expanded accordingly. At the same time, and for the same reasons, Imerys will close its hydrous hydrous containing water. kaolin operations in Devon and consolidate its UK kaolin for ceramics and for performance minerals base in Cornwall. This UK reorganization includes a proposal of up to 800 job losses from the Cornwall and Devon area. Most of the changes will not take place before the fourth quarter of next year. In the meantime Adv. 1. in the meantime - during the intervening time; "meanwhile I will not think about the problem"; "meantime he was attentive to his other interests"; "in the meantime the police were notified" meantime, meanwhile the company will start a full consultation process with unions and employee representatives. Plans will be implemented to support any staff made redundant with a comprehensive outplacement out·place·ment n. The process of facilitating a terminated employee's search for a new job by provision of professional services, such as counseling, paid for by the former employer. service, an employee assistance programme that will provide financial advice and counselling for all employees. The purpose of this reorganization, along with a significant capital expenditure program (GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 25 million), is to secure the future of the Group's UK operations. It will lead to a substantial accounting charge corresponding to asset write-offs mostly, and also social costs. An estimate of that global charge will be released upon publication of the estimated first-half 2006 results, scheduled for July 26. The world leader in adding value to minerals, Imerys is active in 43 countries through over 250 locations. The Group achieved more than EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 3 billion in sales in 2005. Imerys mines and processes minerals from reserves with rare qualities in order to develop solutions that improve its customers' product performance and manufacturing efficiency. The Group's products have a great many applications in everyday life, including construction, personal care, paper, paint, plastic, ceramics, telecommunications and beverage filtration. |
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