Mytilineos acquires Imerys Bauxites

Mytilineos Energy & Metals on Tuesday announced the signing of an agreement with the French company Imerys for the acquisition of 100% of the shares of Imerys Bauxites Greece Single Member Societe Anonyme for 10 million euros. The agreement concerns all bauxite mining activities in the Fokida area, which will now be part of Mytilineos' metallurgy branch.

With this agreement, M Metals is significantly strengthened, as the bauxite production capacity of the mining activity already available to Mytilineos through Delphi-Distomo, whose annual production amounts to 570,000 tons of the ore, is increased. The acquisition is carried out by Mytilineos, but in a second stage, Imerys Bauxite will merge with the 100% subsidiary Delphi-Distomon, with a total production of more than 1.2 million tons while fully exploiting internal synergies.

This move completes M Metals' vertical...