LONDON (dpa-AFX) - Elementis Plc (ELM.L) on Tuesday said that it has completed the sale of its Talc business to talc manufacturer IMI Fabi S.p.A for an enterprise value of $121 million, generating around $55 million in net cash proceeds.
The specialty chemicals company said that the sale follows a strategic review launched in August last year. All Talc-related sites, employees, assets, and liabilities will transfer to IMI Fabi and, after a short transition period, will begin operating under the Mondo Minerals and other IMI Fabi brands.
Elementis Plc said that the sale is an important step forward its transformation into a pure-play specialty chemicals company, focused on high-margin Coatings and Personal Care markets. The company added that the deal will improve its adjusted operating profit margin by around 240 basis points, on the basis of its 2024 results.
The company said that it expects the deal to help it achieve its fiscal 2026 financial targets at a faster pace.
Elementis Plc said that once the transaction is complete, it will start a $50 million share buyback programme, in line with its progressive dividend policy. The positive financial outlook for 2025 remains unchanged, the company added.
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