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TMCNet:  Imerys completes deal to buy Goonvean site [Western Morning News (England)]

[January 09, 2014]

Imerys completes deal to buy Goonvean site [Western Morning News (England)]

(Western Morning News (England) Via Acquire Media NewsEdge) A green light has been given to minerals giant Imerys' acquis- ition of a Cornwall-based china clay business.

Imerys announced it was set to buy Goonvean Holdings Ltd, which operates six sites in the Clay Country, in November 2012. Goonvean Ltd employed 140 people when the deal was struck last year, with its workforce now reduced to 110 in the wake of a 'restructuring process.' A Competition Commission review was launched in the wake of the buyout deal. Following the completion of this, the final paperwork to seal the Imerys/Goonvean merger was completed on January 1. As a result of the review, Imerys and the Competition Commission have established an agreement over applying pricing controls to certain products over the next five years. This will cover around 2% of Imerys/Goonvean's total output.


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