MATERIALS & MONOLITHICS - · PDF fileMATERIALS & MONOLITHICS HIGHLIGHTS 2011 sales(1) ... China Steel, NLMK, Severstal, Tata Steel, ... • Position Calderys

INVESTOR DAY 01.12.12 1

IMERYS DEVELOPMENT STRATEGYINVESTOR DAY JANUARY 12, 2012

Christian SCHENCK – Executive Vice-PresidentMATERIALS & MONOLITHICS


MATERIALS & MONOLITHICS HIGHLIGHTS

2011 sales(1) > €1,020 MApprox. 28% of 2011 Group consolidated sales Structured into 2 activities

4,200 employees worldwide as of Dec. 31, 2011 with Building Materials activity in France onlyA global footprint with 40 industrial sites in 16 countries

2011(2) Sales by destination 2011(2) Sales by activity

Japan/Australia2%

Emergingcountries

28%

North America(<0.5%)

Europe24%

(1) 2011 provisional data, non audited(2) 9 months 2011

France45%


Building Materials


THE FRENCH LEADER IN CLAY BUILDING PRODUCTS

Imerys is the French leader in each segment of clay building materials,in a market driven by regional requirements

The company develops, produces and sells performing clay based materials

Structural Blocks

Chimney BlocksRoof Tiles65 models – 69 colors

Partition Bricks

Photovoltaic Tiles

Thermal Tiles


A BUSINESS WELL POSITIONED TO CREATE VALUE

High multi-regional market shares

Each facility has dedicated local mining resources that provide high qualityand cost-effective feedstock supplies on the long term (up to 50 years)

Combined with a manufacturing excellence shared among all locations to produce:• High volumes in large effective plants• Sophisticated products• With a high standard of quality

Sold through local distributors, meeting customers & regulation requirements

LOWEST COST TO MARKETAND TRIGGERING INNOVATION

TO BE A PRICE LEADER


CLAY ROOF TILES:AN ATTRACTIVE AND RESILIENT BUSINESS

Roof market in France estimated at 144Mm² in 2010Pitched roofs represent 50% of the surfaces, and 70% are clay tiles (50Mm2*)Clay tiles market share grew from 50% to 70% between 1985 and 2010

* Source: FFTB

Clay tiles markets:45% new build55% renovation50%

20%

30%Clay rooftiles

Naturalslates

Others

1985

70%14%

16%

2010


EARLY 2000: TURNAROUND FOR CLAY BLOCKS

Increasing market share for clay blocks in individual housing vs. concrete products

Single-FamilyHousing

DevelopersBuildersPersonal

Customers

Decision-maker

CollectiveHousing

DevelopersLocal

Administration

20%

Market Share forClay Products

6%

2003

46%

15%

2011Segment

From a traditional mechanical commodity block to a successful value-added product • Thermal insulation • Easy and quick to install

New products for collective housing• A growing market for clay blocks


CHALLENGING THERMAL REGULATION FOR HOUSING: AN OPPORTUNITY!

• High level of mediatization to address public awareness

• For housing, a plan for unparalleled reduction of energy (energy &CO2)

New housing, a challenging target- 66 % in 2012,Passive housing in 2020

• New requirements for environmental issues:

Indoor air quality Environmental labelling of products (EPD)

-25%

-25%

-16%

-25%

-20%

0

50

100

150

200

250

300

Prior 1974 1982 1988 2000 2005 2012 2020

1st TR*: April 1974

2nd TR: March 1982

3rd TR: April 1988

4th: TR2000

5th : TR2005

Average housing consumption (KWh/m²/)

-66%

-100%

Future TR2012

* TR: Thermal Regulation


CLAY BLOCKS: A THERMAL SOLUTION

OPTIBRIC PV R = 0.78

OPTIBRIC PV3+ R = 1.00

OPTIBRIC PV4G R = 1.32

Glue assembly blocks: a thin mortar is appliedwith a roller with two main benefits:

• Improve thermal insulation• Reduced laying time (by 30%)

From being simple load bearing element,block became a significant partof the thermal performance of the wall


Commenailles

Quincieux

Ste-Foy-l’Argentière

St Germer de Fly

WardrecquesPhalempin

Damiatte

Grossouvre

Blajan

Leguevin

St Geours d’Auribat

Blocks and chimney blocks

Roof tiles

Pargny-sur -Saulx

Doyet

Gironde sur DroptSaint Marcellin

Colomiers

La Boissière du Doré

Mably

Vergongheon

Vihiers

#1 IN FRANCE WITH MULTI-REGIONAL PRESENCE

Roof tilesNumber 1 in France

• Main competitors: Terreal, Monier, Wienerberger• 3,500 direct customers

13 Industrial sitesVolumes sold

• 1,100 KT Tiles and accessories• The equivalent of 150,000 houses • 65 Models, 69 colours,

over 700 models of accessories

Blocks & Chimney blocksNumber 1 in France

• Main competitors: Wienerberger,Bouyer Leroux, Terreal

7 Industrial sitesVolumes sold

• 670 KT of blocks• Equivalent of 22,000 houses


OPERATIONAL EXCELLENCE: Imerys Terre Cuite, most cost-efficient producer in France

Extensive know-how in mining & deposit management• Best quality clay for the most efficient process and product quality

Thorough review and follow-up of Capex

Plant productivity • Highly automated production lines• Broad range of KPI’s used at all levels of the organization

to track inefficiencies and quality issues• Adequate staff training


ENVIRONMENTAL REGULATIONS: INNOVATION & OPPORTUNITIES

NEOPLATE for an increased efficiencyInnovation Awards Nominee at 2011 Batimat Trade Fair – Paris• Significant drop of installation time: - 35%• And adapted to our photovoltaic roof tiles

Opportunities generated by “Grenelle de l’Environnement” regulationImerys Terre Cuite has developed a number of roof equipments to capture energy:• Photovoltaic panel to capture solar energy• Panels to heat water

Clay roof tiles: chemically neutral to collect water• No change in chemical composition of collected rain water – unlike all other roofing solutions


A BREAK-THROUGH

With a number of benefits:

• Acoustic performance (noise insulation)• Thermal performance (thermal inertia, humidity regulation)• Indoor air quality• Durability

Intuitys: an innovative Clay board, for insulating and partition walls – dry mounting on metal framework

• Shock resistance • Accepts all kinds of finishing • Quick and simple to install



A GROWING BUSINESS MOVING FROM MONOLITHIC REFRACTORIESTO COMPLETE SOLUTION

Calderys• World leader in monolithic refractories• 8% CAGR 2005-2011• Created by the merger of Lafarge Refractories & Plibrico in 2005 • > 100 years of experience

The monolithic refractory business model relies on• Local sales with “tailor made solutions” (product adapted to industry specificities,

local practices and based on local raw materials)• Transversal advantages: a global purchasing power, a constant benchmarking

of technical solutions and a globally coordinated R&D effort

Growth fuelled by three key elements• Innovation in order to develop fit-to-purpose materials• Geographical expansion towards high growth areas• Expansion from refractory products to complete solution provider


REFRACTORY MONOLITHICS

Refractories: heat resistant materials• acid and basic varieties • shaped and unshaped (monolithic) types

Monolithics: semi-finished products • Usually mixed with water to be installed• Transformed by heat (ceramic bond)• Formulated products consist of aggregates + binder + additives


MONOLITHIC: A SOLUTION GROWING FASTER THAN THE OVERALL REFRACTORY MARKET

Monolithic as a % of refractory production

Monolithics account for 45% of the total market in developed economies due to several advantages:

− Joint less lining (no weak point)− Ease and speed of installation− Adaptable to complex furnace shapes

and allow for hot repairs by gunning− Short production cycle: can be manufactured

and delivered at short notice

0

10

20

30

40

50

60

70

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010Perc

ent o

f Ton

s Pr

oduc

ed

Year

Japan

Europe

China

India

Monolithics substitute refractory bricks

The Monolithics consumption is expected to grow at 3.5% CAGR over 2009-2014, to reach 35% of the total refractory market

The bricks should grow by 1.2% CAGR over the same period

Source: Local associations of refractory producers


CALDERYS IS A FOCUS PLAYER WITH A BALANCED PORTFOLIOAND GLOBAL COVERAGE

Global

Local

High LowCapital intensiveness

Geo

grap

hic

cove

rage

Bricks Monolithics

CALDERYS

MAGNESITA

MINTEQ

REFRATECHNIK

QINGHUA

KROSAKIHARIMA

> 65% of sales in steel

< 50% of sales in steel

> 50% , < 65% of sales in steel

THERMALCERAMICS

VESUVIUS

RHI

Company size basedon 2010 sales

MOST ADVANCED SOLUTIONSLOWER CAPITAL INTENSITYDIVERSIFIED CUSTOMERS


A STRONG INTERNATIONAL NETWORKWITH LOCAL TECHNICAL PRESENCE

2,000 employees in 30 countries 16 plants on 5 continents - industrial presence in India and China since 20073 R&D centers, 11 Design Offices and > 100 technical experts

Vereeniging(South Africa)

Unanderra(Australia)

Zhangjiagang(China)

Kao-Shu(Taiwan)

Nagpur(India)

Puerto Ordaz(Venezuela)

Fiorano(Italy)

Sézanne(France)

Leeds(United Kingdom)

Oosterhout(The Netherlands)

Györ(Hungary)

Vladimirovka(Ukraine)

Åmål(Sweden)

Neuwied(Germany)

Katni(India)

Höganäs(Sweden)


A DIVERSIFIED AND BALANCED CUSTOMER PORTFOLIO

Calderys serves all industries that use refractoriesand has a portfolio of > 1,000 products

Calderys is a long-term partner of many industrial leader and is constantly working with customers to improve their operational performance No customer accounts for more than 5% of sales

IRON & STEEL Arcelor-Mittal, China Steel, NLMK, Severstal, Tata Steel, ThyssenKrupp, Metinvest,…

FOUNDRY &ALUMINIUM

Daimler, PSA, Teksid, Toyota,…Alcoa, EMAL, Qatalum, Rio Tinto Alcan, …

POWER Bharat HEL, Danieli Centro Combustione, Foster Wheeler, Metso Power, …

CEMENT CBMI, Heidelberger, Holcim, Italcementi, Jaypee, Lafarge, …

PETROCHEM Formosa Group, Shell, Total, BP,…

47%

14%

18%

3%

18%I&S

Foundry

Thermal

Petrochem

Other

12%

9%

5%

18%

21%

25%

10% GermanySwedenFranceOther W. EuropeE. Europe & CISAsiaOthers

By market segment (%)

By geography (%)

More than 50% of sales in developing countries


FUNDAMENTAL CONTRIBUTION OF INNOVATION

Innovation is key to adapt to both customer requirements and local practicesCalderys constantly upgrades / adapts its solutions with the support of three world-class R&D centers

Top priorities of Calderys R&D:• Reduce customer equipment downtime:

e.g. Quick-Dry (QD) materials, hot repair materials• Improve health & safety: e.g. dust-free materials• Increase lining life: e.g. alkali resistant versions• Facilitate installation (speed, easiness and reliability):

e.g. Low Porosity Dense Gunning materials & precast solutions• Increase energy savings: e.g. precast solutions in diamond

shape for Reheat Furnace roofs

The refractory lining is resistant to hightemperatures and to stresses caused by thermal,corrosive and abrasive conditions

ALL THOSE FEATURES CONTRIBUTETO IMPROVE TOTAL COST /

PERFORMANCE RATIO


GROWTH FUELED BY GEOGRAPHICAL EXPANSION

Structuring acquisition in India in 2007: Ace Refractories, leader in monolithics

Opportunity to enter the fast growingIndian market with a profitable and wellestablished company, while also• Capitalizing on a strong management team that can

also support Imerys’ future development in India• Improving our understanding of end user needs

in emerging countries • Transferring of business and technical knowledge

within the group needs Selected acquisitions of monolithic manufacturers: • QA Refractories (South Africa) in 2005• Svenska Silikawerken (Sweden) in 2008

Recent opening of sales offices in Turkey, Dubai, Vietnam, Mexico

Specific growth strategy in Asia

BUILD A PLATFORM IN INDIA, STRATEGIC COUNTRY FOR IMERYS

30%

25%

20%

10%

0%

15%

5%

2005 2006 2007 2008 2009 2010 2011

% of Asia sales in total revenues


MONOLITHICSFROM PRODUCTS TO COMPLETE SOLUTION PROVIDER

Calderys does not only sell refractories but also able to design solutionsand manage a whole project including installation of refractories

This capability helps to• Enhance technical dialogue with customers in selecting the most appropriate solution:

products cannot be chosen by customers out of a catalogue • Increase sales: merchandise, installation • Position Calderys

− as a technical partner both on refractories knowledge and engineering & construction− for future maintenance jobs

• Differentiate from small competitors• Maintain price leadership

Project contributed to ¼ of Calderys’ growth in the last 5 years


MONOLITHICS:A CONSTANTLY IMPROVING SYSTEM

Capture value downstream, from material supplier to service provider:an integrated system!

CONTINUOUS IMPROVEMENT OF OUR SOLUTIONS

Raw Material Selection Engineering & Design

Logistics& Delivery

TechnicalSupport

R&D ManufacturingProject Management

Dry-out & Commissioning

Installation & Supervision

INVESTOR DAY 01.12.12

MINERALS FOR CERAMICS, REFRACTORIES, ABRASIVES & FOUNDRY HIGHLIGHTS

2011 Sales(1) > € 1,180M – approx. 32% of Group’s sales5,600 employees worldwide as of Dec. 31, 2011A global footprint with 93 industrial sites in 24 countries

2

26%

26%39%

9%Graphite & CarbonMinerals

for Ceramics

Minerals for Refractories

& Oilfields

Fused Minerals

2011 Sales by activity(2)

Minerals for Ceramics, Refractories, Abrasives & Foundry

Minerals for CeramicsMinerals for Refractories & OilfieldsFused Minerals Graphite & Carbon

A large global business

(1) 2011 provisional sales, non audited(2) 9 months 2011


FUSED MINERALS: WORLWIDE LEADER

2011 Sales* > €450 M leading market positions on specialties• Fused minerals for abrasives: World #1 • Fused zirconia: World #1

Unique fusion technology and know-how• Key to control critical functional properties: abrasive efficiency, durability,

heat dissipation, opacity, color, purity, etc.

Global presence• Industrial assets in Europe, North and South America, China

Imerys R&D center: CARRD in Villach (Austria)

3

Tren

dsA

sset

s

Bonded abrasives, Coated abrasives, Refractories, Technical ceramics,Laminates/ Paintings, Chemicals, etc.

Products Applications

Fused Minerals: alumina, bauxite, zirconia, magnesia, etc.

Bonded abrasives Coated abrasives Sand blasting Refractories Oxygen sensors

End-markets

Iron & Steel, Foundry, Automotive, Industrial equipment, Electronics/Electrical, Construction (new), Energy, etc.

* 2011 provisional sales, non audited


MINERALS FOR REFRACTORIES & OILFIELDS: HIGH-ALUMINA PERFORMANCE PRODUCTS

2011 Sales* > €330M, leading position on “acidic” applications• Minerals with high alumino-silicate content: World #1• Fused silica: World #1

High-quality mineral resources• Extensive reserves of high-alumina and high-purity clays (US, France)• World largest andalusite reserves; unique range of crystal sizes and purity (France, South Africa, China, Peru)

Sophisticated and proprietary manufacturing processes • Control of chemistry, crystallography, homogeneity, particle size, etc. • Raw material selection

Global sales and logistics network• Service and final processing centers located close to end-markets

4

Ass

ets

Refractories, Investment casting, Oil & Gas exploration

Products Applications End-markets

Andalusite, Mullite, Chamottes, Ball Clays, Bauxite, Bentonite, Fused Silica, etc.

Refractories Cement Investment casting Oil & gas

Steel, Aluminum, Glass, Foundry, Cement, Energy



MINERALS FOR CERAMICS: SPECIALTY PRODUCTS FOR CERAMIC INDUSTRIES

2011 Sales* > €310M, leading market position on high-end minerals• Raw materials & ceramic solutions (bodies): sanitary ware: World #1, tableware: EMEA #1• Kaolin for glazes: World #1

World-class mineral assets• UK (Cornwall, Devon, Dorset), France, Thailand, Turkey

Market reference• World-known brands, associated with high product quality (e.g. whiteness, plasticity, purity, strength)

and process efficiency (e.g. rheology, mechanical resistance, deformation)• Technical know-how on customers’ processes

Imerys R&D center in Limoges, France

Global presence:• Assets in EMENA, North America, Asia

5

Ass

ets

Sanitaryware, Tableware, Ceramic tiles, Technical ceramics, etc.

Crucible for solar cells


Kaolin, Clays, Feldspar, Quartz, Talc, Ready-made Bodies & Formulations, etc.

Technical ceramicsSanitaryware Tableware Floor & wall tiles Electro porcelain

Construction (new and renovation), Tableware, Energy, Automotive, Semiconductor, Electronics, etc.



GRAPHITE & CARBON: GRAPHITE AND CONDUCTIVE CARBON BLACK POWDER FOR INDUSTRIAL APPLICATIONS

2011 Sales* > €100M, leading market positions in graphite powder specialties• Graphite for Alkaline batteries: World #1• Conductive additives for Li-Ion batteries: World #1• Lubricants for Seamless Tube production: World #1• Large natural graphite flakes: World #1Cutting-edge high-temperature processes (synthesis, crystallization)• For close control of functional properties: purity, crystalline structure, particle size and shape, specific surface, etc.Natural graphite resources of high-quality (Canada) Imerys R&D center in Bodio, SwitzerlandWorldwide commercial network addressing global customers with high level of technical needs

6

Ass

ets

Alkaline & Li-ion Batteries, Hot Metal Forming, Friction, Engineered Polymers, Thermal Management, etc.


Natural & synthetic graphite, conductive carbon black

Li-ion batteries Friction Electronics Energy Seamless Tube

Energy, Electrical & Electronics, Automotive & Transports, Industrial Equipment, etc.



MINERALS FOR CERAMICS, REFRACTORIES, ABRASIVES & FOUNDRY: WELL POSITIONED FOR VALUE CREATION AND GROWTH

Value creation potential out of solid specialty business position

Growth potential thanks to attractive end-markets


VALUE CREATION POTENTIAL AS A RESULT OF SOLID SPECIALTY BUSINESS POSITION

High-performance products for demanding industrial environment• Functional properties key to customers application…

− Refractoriness, abrasiveness, wear / mechanical resistance, whiteness, plasticity, conductivity, purity, etc.• Limited substitution risks as our minerals are essential to customers products or processes

− Usages very demanding: ceramics, refractories, abrasives, semiconductors, production of oil and gas, mobile energy, etc.

Barriers to entry• Sophisticated manufacturing processes, around high-temperature operations

− Fusion, sintering, calcination, etc.• Mining assets essential to competitive position

− Graphite, High-alumina products, Clays, Quartz, etc.

Leading market positions in all 4 businesses• Fused Minerals: Minerals for abrasives: World #1, Fused zirconia: World #1, • Minerals for Refractories & Oilfields: Minerals with high alumina-content: World #1, Fused silica: World #1, • Minerals for Ceramics: bodies for sanitaryware World #1, and for tableware: EMEA #1,

Kaolin for glazes: World #1• Graphite & Carbon: Alkaline batteries: World #1, Conductive additives for Li-Ion batteries: World #1, Lubricants

for Seamless Tube production: World #1, Large natural graphite flakes: World #1

8


Growth• Dynamic end-markets• Innovation• Emerging countries

GROWTH POTENTIAL: END-MARKETS

9

Main end-markets with potential > worldwide GDP growth

AutomotiveEnergyElectrical / electronicsEnvironmentAir & space

Main applications withpotential > worldwide GDP growth

Li-Ion batteries High-purity quartzOil & gas explorationWaste management, etc.

Growth end-markets represent ~40% of sales

Sales

Rapid growth in emerging countries

Emerging marketsc. 30%

Emerging marketsc. 30%

Mature end-markets

c. 35%

Mature end-markets

c. 35%

5%5%Emerging marketsc. 30%

Mature end-markets

c. 35%

5%


CRAF a major contributor to Group Innovation• More than one third of Imerys innovation pipeline, representing

more than €300 million* sales potential• Three major innovative projects • And a dense pipeline

Three major projects• To target new end-markets: proppants for Oilfield services,

high-purity quartz for solar cells and semiconductor industries• To reinforce our presence in fast-growing market: Graphite for Li-ion

batteries of electrical cars

Fused Minerals• Sintered rods: new type of abrasive to increase grinding performance• High-purity zirconia: new product for advanced Ceramics oxygen

sensors for emissions control of cars (Bosch)• Ultra high-purity zirconia: zirconium metal for nuclear industry

(Cezus Areva)• etc.

10

Proppants

High Purity Quartz

Carbon for Li Ion

PolyCrystalline, Highly Porous Corundum

Sintered Bauxite Abrasives

* Including sales of Quartz Corp JV

GROWTH POTENTIAL: PRODUCT INNOVATION, A DENSE PIPELINE IN EACH DIVISION

Nuclear Fuel Rods

Courtesy of Areva


PRODUCT INNOVATION: A DENSE PIPELINE IN EACH DIVISION

Refractories & Oilfields• High purity fused silica: for precision investment casting• etc.

Ceramics• Service: development of integrated supply of bodies and formulations

for large industrial players (e.g. Ikea)• Power plants: AuroraTM for better energy efficiency of combustion

boilers• Technical Ceramics: improved presence with Talc integration • etc.

Graphite & Carbon• Graphite: new products for thermal management,

energy production, energy saving & storage• Carbon black: new products for “high-tech” applications

e.g. ecological buildings (energy saving), medical (safety)• etc.

11

Aurora: fluidized bed prevention

of agglomeration

Carbon additive

for polymer

New mineral for investment

casting


FOCUS: ENTRY OF TALC INTO PORTFOLIO OFFERING NEW GROWTH AVENUE IN TECHNICAL CERAMICS

Imerys historical presence in technical ceramics• World #1 in high-quality ball clays for electro-porcelain insulators• Steatite or Cordierite full-prepared bodies sold to German automotive industry• High-alumina bodies (>97% Al2O3), calcined and hydrated alumina micronizing for specialty application

Imerys innovation efforts• Patented kaolin from Brazil for automotive catalyst supports commercial development • Formulation knowledge to develop new specialty bodies: e.g. ballistic protection• Leverage on Imerys synergies: 3 Imerys R&D Centers focusing on technical ceramics

Leverage Talc Group existing strong market position• World #1 in talc for automotive catalyst supports• Major supplier of talc for cordierite and steatite bodies

12


FOCUS: BECOMING THE LEADING RAW MATERIALS SUPPLIER FOR AUTOMOTIVE CATALYSTS SUPPORTS

13

Demand expected to double within the next 5 years, driven by two global trends:

• Increasing demand in developing countries: e.g. +30% p.a. in China

• Tightening regulation in developed countries: e.g. diesel vehicles, including heavy diesel

Ceramic honeycomb=Talc + hydrous kaolin + calcined kaolin + alumina

A growing innovative area for Imerys Ceramics, sales of c. €25 M with significant development prospects


GROWTH POTENTIAL: DEVELOPMENT OPPORTUNITIES IN EMERGING COUNTRIES

CRAF exposure to emerging markets has been rapidly growing• Up 7 points in 5 years, to 31%• Lowest exposure to Western Europe: 41%• … offering many further opportunities

Fused Minerals• New project in Bahrain: competitive energy costs, expansion East• China: Fused Zirconia business is a platform for growth into other segments / products

Refractories & Oilfields• China: ramp up of andalusite Yilong production site associated with increased demand

for high-performance products

Ceramics• Turkey: ongoing developments, as Middle-East has become world’s 2nd largest production

cluster of traditional Ceramics• South East Asia: expansion resulting from existing platform in Thailand• Brazil: capitalization on RCC kaolin platform in Brazil to grow presence in local market

Graphite & Carbon• China (most important market for Graphite): expand presence in mobile energy,

engineering materials and carbon additives for polymers

14

2011*

Western Europe

42%

USA & Canada

21%

Japan & Australia

5%

Emerging & Other32%

* 9 months 2011


Acquisition of Astron China in 2008 transformed Imerys position in Fused Zirconia• Main end-markets:

− Specialties: refractories (steel continuous castings), investment casting (precision metallurgy), technical ceramics (e.g.: oxygen sensors), chemicals (e.g.: anti-perspirants), ceramic colors

− Volumes: ceramic wall and floor tiles• Gained presence in Europe and in the US with UCM in 2007• China: largest market for refractories, chemicals, tiles, etc.• Astron China: a leading Asian asset-base, with all production sites and most of sales

in ChinaImerys world leader in Fused Zirconia

Integration and turnaround now completed • Entirely new management team, led by Franco-Chinese

General Management and its extensive experience• Business portfolio centered on high value-added products• Technology transfer to state-of-the-art fusion process and know-how• Imerys Fused Minerals China clear market leader in China in 2011• 2011 Sales(*) > €90 M, double digit operating income profitability

FUSED MINERALS IN CHINA: A PLATFORM FOR FUTURE GROWTH

15

PlantsSales offices

Fused Minerals division

China



IMERYS FUSED MINERALS IN CHINA: IMERYS POSITION CAN NOW BE LEVERAGED

Continuing to grow the Fused Zirconia Business• Enhance product offering, in order to capture rapidly-growing demand

for specialties― Technical transfers, R&D

• Improve industrial layout― Modernization of industrial equipment

• Increase profitability― Pricing policy

― Focus on high value-added industrial outlet

Expanding into other businesses• Under local management leadership• Downstream: investment / acquisitions• Other Fused Minerals

16

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MATERIALS & MONOLITHICS - · PDF fileMATERIALS & MONOLITHICS HIGHLIGHTS 2011 sales(1) ... China Steel, NLMK, Severstal, Tata Steel, ... • Position Calderys