In Brief 2012 - Imerys, Transform to perform

The world leader
in mineral-based specialty
solutions for industry
2012 IN BRIEF
IMERYS
Contents
• 03
Multiple markets
• 04
A core business at the
heart of everyday life
• 05
Mineral specialties
for high-quality products
and processes
• 06
4 market-leading
business groups
• 08
The Imerys model
• 10
New applications
for growing markets
• 12
Targeted acquisitions
to boost growth
• 13
Greater presence
in emerging zones
• 14
Developing
our talent
Profile
IN BRIEF 2012
We are
Imerys
Multiple
markets
The wide variety of markets that Imerys serves improves
its exposure to economic cycles. The Group’s sales are
balanced across 20 or so markets. Here are some
examples.
The world leader in mineral-based specialty solutions
for industry, Imerys transforms a unique range of
minerals to deliver essential functions – heat resistance,
mechanical strength, conductivity, coverage, barrier
effect, etc. – for its customers’ products and
manufacturing processes.
Whether mineral components, functional additives,
process enablers or finished products, Imerys’ solutions
contribute to the quality of a great many applications in
consumer goods, industrial equipment or construction.
Combining expertise, creativity and attentiveness
to their customers, the Group’s international teams
constantly identify new applications and develop high
value-added solutions, in line with its determined
approach to responsible development.
1.
Construction:
More
than 250
3,885 M€
revenue
50 countries
490 M€
current operating
industrial sites
More than
16,000
employees
income
Roof tiles,
slates, cement
making, window
profiles...
7.
Energy:
Batteries,
photovoltaic cells
and panels, oil
and gas drilling...
2.
Decorative
materials and
fittings:
Sanitaryware,
tableware,
flooring, paint,
floor tiles...
8.
Agri-food:
Beer, wine, edible
water and fruit
juice filtration...
3.
Steelmaking
and metallurgy:
Refractory linings
for industrial
furnaces...
9.
Electronics :
Device structure,
processors,
semiconductors...
4.
Paper:
Catalogues,
advertising
materials,
brochures,
magazines,
specialty
papers...
10.
Pharma and
personal care
Deodorant,
skin creams,
toothpaste,
hygiene
products...
__3__
5.
Automotive,
industrial
equipment
and consumer
durables:
Plastics,
batteries, paint,
bodywork,
tooling...
11.
Horticulture,
protection of
flora
Hydroponics,
UV protection,
repellents...
6.
Packaging:
Board, plastic
film...
IN BRIEF 2012
IMERYS
A core business
at the heart of everyday life
Imerys’ core business, mineral processing, is based on a broad
set of industrial and technological skills. The vast range
of possible uses by our customers mean that Imerys’ solutions
are part of a great many products in everyday life.
1
Turning minerals…
Mineral specialties
f or high-quality products
and processes
The benchmark player for mineral-based specialties,
Imerys designs solutions that are used in the industrial
chain in four different ways.
2
… into specialty solutions
3
4
Mineral
components
Functional
additives
Process enablers
Finished products
25%*
45%*
20%*
10%*
These are essential parts
of customers’ product
formulations. Clay, kaolin
or feldspar, for example,
are used to make white,
robust sanitaryware or
tableware.
… that deliver high-performance
applications and functions…
Ingredients in customer
product formulations that
improve their properties:
kaolin makes paper
easier to print and
glossier; mica and
feldspar increase the
coverage of decorative
paint.
… for our industrial customers’
products and processes
* Source: % of 2012 revenue
__4__
__5__
Products that are used
in Imerys customers’
manufacturing processes
but not part of the
finished product.
This is the case for the
monolithic refractories
used to protect very high
temperature furnaces
(steel, foundry, aluminum,
cement, energy,
petrochemicals and
incineration).
Materials used as such
without any transformation
by Imerys’ customers.
These include roof tiles
which combine
convenience with
energy efficiency in
the construction of
comfortable,
sustainable housing.
IN BRIEF 2012
IMERYS
4 market-leading
business groups
Minerals for Ceramics, Refractories,
Abrasives & Foundry
10%
26%
37%
Performance
& Filtration Minerals
Minerals
for Ceramics
Minerals
for Refractories
& Oilfields
Fused Minerals
Graphite
& Carbon
Pigments for Paper
& Packaging
23%
Performance
Minerals*
Filtration Minerals
32%
6%
44%
* Including the Luzenac Group
as of August 1, 2011
Material
& Monolithics
Europe
North America
South America
Asia-Pacific
Building Materials
Refractory
Solutions
57%
43%
68%
27%
27%
98
industrial sites
26 countries
€1,206
million
revenue in 2012
65
industrial sites
20 countries
€900
million
revenue in 2012
49
industrial sites
19 countries
€859
million
revenue in 2012
41
industrial sites
17 countries
€969
million
revenue in 2012
The business group comprises four activities:
Minerals for Ceramics, Minerals for Refractories
& Oilfields, Fused Minerals, Graphite & Carbon.
It serves the following industries in particular: steel,
casting, aluminum, cement, glass, mobile energy,
oilfields, decorative ceramics.
The business group offers two product families –
Performance Minerals and Filtration Minerals –
which cover a wide range of applications, e.g.
paint, plastic, food, automotive, pharma and
personal care.
The business group designs and markets mineral
solutions that improve the properties of cellulose
fiber-based products to serve the paper and
packaging industries.
The business group offers its customers innovative
products in Building Materials – clay roof tiles
and natural slates - and Refractory Solutions –
silico-aluminous monolithic refractories and
kiln furniture.
(30% of Group total)
(23% of Group total)
World #1 in mica and talc
World #1 in ceramic bodies
World #1 in minerals for breathable
polymer films
World #1 in kaolin for glass fiber
World #1 in fused silica
(22% of Group total)
(25% of Group total)
World #1 in kaolin for paper
French #1 in roof tiles and natural slate
World #2 in ground calcium carbonate (GCC)
for paper
World #1 in silico-aluminous monolithic
refractories
World #1 in diatomite and perlite-based
products for filtration
World #1 in fused zirconium
World #1 in kiln furniture for roof tiles
World #1 in conductive additives for Li-ion
batteries
__6__
__7__
IN BRIEF 2012
IMERYS
The Imerys model
STRONG MARKET
POSITIONS
#1 OR #2
Imerys has a unique, high-performance business model,
based on a diverse portfolio of activities, extensive
geographic presence and strict cost management.
Closeness
International
to customers
growth
In-depth knowledge
on every key market
Sustainable
Operating
p
Development
excellence
A cross-Group necessity
By improving manufacturing processes, raising
product quality, increasing environmental
friendliness and reducing costs, Imerys is an
essential partner in its customers’ performance.
This closeness stems from the Group’s
decentralized organization. Empowered,
autonomous profit centers foster constant dialog
with customers and anticipation of their needs.
This enables Imerys’ teams to build innovative,
made-to-measure formulations that meet the
demands of specific applications. They also offer
a wide range of turnkey services and solutions.
Imerys constantly optimizes its industrial assets to
adapt them to market trends, control fixed costs,
improve flexibility and competitiveness and
reduce environmental impacts. The goal is to
sustain an improvement momentum and draw
value from the Group’s resources.
Several actions were taken toward that aim in
2012: creation of a Group Industrial Department,
definition of 11 key industrial performance
indicators and design of a training program
for rollout to all of Imerys’ operating units.
A responsible, committed approach
Imerys’ Sustainable Development policy is part
of all its production and marketing processes.
85% of the 2012 goals were achieved and the
new three-year plan continues to be implemented.
Imerys has provided its operations with an
environmental management system which it
regularly audits. The Group continuously acts to
train and raise awareness among its employees
and contractors on safety issues. It also strives to
reduce its operations’ consumptions and impact
on biodiversity and take into account the
expectations of their neighboring communities.
Greater presence
While Imerys continues to implement its
acquisition policy, the 2012-2016 plan centers
its strategy on organic growth, developing new
applications and further geographic expansion.
The Group intends to increase its international
production capacities with a focus on
fast-growing segments. Two examples from
2012: a ceramic proppant plant came on stream
in Georgia (USA) and construction started
on a fused alumina plant in Bahrain.
__8__
__9__
IN BRIEF 2012
INNOVATION
IMERYS
New applications
for growing markets
Close-up…
2 of the year’s leading innovations
CALDE SPRAYCAST
NA 48 SA QD
Imerys approaches innovation by
understanding its customers’ businesses
in depth and detecting their needs in
order to anticipate them more effectively.
For quicker application
the SPRAYCAST installation
technique developed by Calderys
(Refractory Solutions activity) is a
highly effective method for applying
refractory concretes inside industrial
furnaces. This range is often used
to cut equipment downtime in many
industries. After earning a global
reputation as an essential product,
the line is going further with
Quick DryTM. Not only does the new
technology save time by speeding
up the drying process, but it also
makes installation easier. In 2012,
during work in a cement plant, one
person was enough to install it,
compared with three to five people
for conventional solutions.
C-NERGYTM Actilion,
I
nnovation is an essential
vector for internal
growth and a key factor
in Imerys’ strategy. The Group
seeks to increase its sales on
growing markets and aligns its
research and innovation portfolio
accordingly.
8 research centers and
20 laboratories
Innovation efforts are based on
a decentralized Research &
Development structure. Business
groups are responsible for the
work done for their activities in
8 main research centers and
20 regional laboratories dedicated
to the development of customerspecific solutions. They are
supported by marketing teams
and by cooperation with research
institutes and local universities.
The Innovation Department
coordinates all of the Group’s R&D
projects. Its mission is also to
increase Imerys’ innovation
potential by imagining new
applications and exploring new
markets for activities' products.
High development
potential
In 2012 the Group achieved an
estimated €250 million in revenue
from products created in the past
five years. This success is part of a
strong innovation momentum: the
R&D budget rose + 30% in 2012
to €56 million. Given this increase,
together with an analysis of the
pipeline of innovations set for
market launch between 2012 and
2016, the Group forecasts
potential additional revenue of
almost €700 million by 2016.
These growth outlooks are
particularly based on assessments
of the carbon for lithium-ion
batteries, oxygen sensors and
ceramic proppant markets.
__10__
A new solution for lithium-ion
batteries. The first generation
+30%
of active carbon for negative
electrodes, C-NERGY TM Actilion
was developed by Timcal, an
Imerys subsidiary (Graphite &
Carbon activity) and the world
leader in carbon black. The new
product is designed for the
high-performance lithium-ion
batteries used in mobile phones,
tablets, computers and electric
cars. In this electrode, the most
common solution is natural
graphite that is formed into a
sphere by an energy-intensive
increase
in R&D spending in 2012
250 M€
revenue
in 2012 from the past
5 years’ innovations
mechanical process with a low
materials yield, then coated and
impregnated with an asphalt that
is considered harmful. The new
product developed by Timcal is a
technically and economically
compelling alternative solution.
+ 40 to + 50 %
growth
The Li-ion battery carbon
market should grow by
40-50% per year in volume
terms, according to a 2012 study
by Techno System Research.
YET MORE INNOVATIONS…
LINERMAX CP KAOLIN,
a healthier and more
environmentally-friendly
product, is an alternative
to chemical fibers for
the North American
packaging paper
market. After a
successful launch in
Asia, it is currently in the
testing and approval
process at several
customer facilities.
OPACITEX E, this
calcined kaolin, has
outstanding opacifying
qualities and very low
density. It can easily
replace titanium
dioxide, which is toxic,
in decorative laminates.
Opacitex E is now in
industrial production.
__11__
INFUSION 2 SL
CALCIUM CARBONATE
improves the heat
resistance, whiteness
and mattness of PVC
profiles.
IN BRIEF 2012
Targeted acquisitions
to boost growth
Greater presence
in emerging zones
Imerys implements a selective external
growth policy in line with its core
business to broaden its specialty product
offering and its geographic presence.
These developments come under
a framework of strict, value-creating
financial discipline.
Imerys is aiming for critical size in ten or
so countries and fostering cross-Group
cooperation to speed up regional
development in all of its business groups.
I
n 2011 this targeted strategy
led the Group to create a
joint venture, The Quartz
Corp SAS, to serve the semiconductor segment and
photovoltaic industry, and
acquire the Luzenac Group, the
world leader in talc, to serve the
plastic, polymer, paper, packaging,
paint and technical ceramics
markets. In 2012 Imerys continued
its development with two
operations in Brazil and the United
Kingdom. Furthermore, the
successful integration of the
Luzenac Group further improved
Imerys’ technical and commercial
performance.
Acquisition of Itatex
in Brazil
minerals and broadens its range for
the paint, polymer and rubber
sectors, for which local demand is
growing sharply.
Acquisition of Goonvean’s
kaolin activities in the
United Kingdom
Goonvean’s kaolin activities employ
140 people on six sites in Cornwall,
operating very high-quality
reserves. The business generated
revenue of €22 million in 2011. This
acquisition consolidates Imerys’
growth potential in specialty
products, mainly for performance
and ceramic applications. The
operation also safeguards the
Group’s local assets for the future.
Itatex designs and markets
engineered mineral and kaolin
specialties. The company posted
revenue of €10 million in 2011 and
employs 115 people in Campinas
(São Paulo state). Itatex enhances
the Group’s offering in performance
CLOSE-UP ON…
INTEGRATION
OF LUZENAC GROUP
Imerys bought the Luzenac Group
from Rio Tinto in August 2011,
adding talc to the 30 or so
minerals in its range. After a year
of integration, the activity’s
margins improved significantly and
many synergies were implemented.
On the commercial front, Imerys
Talc benefits from the Group’s
clout on the paper and ceramics
markets and in emerging countries.
There is also valuable synergy in
R&D and production techniques.
73
acquisitions
made by Imerys
worldwide in 12 years
More than
€1.8 billion
capital expenditure
for external growth
in 12 years
__12__
E
merging countries are
a major growth lever
for the Group. F ro m
2001 to 2012 their share of
revenue rose from 6 to 27%.
Imerys intends to leverage its most
attractive current locations and
establish bases in new countries
with significant opportunities for its
mineral specialties.
Priorities: Brazil, China,
India
These three countries, which
together generate more than €420
million in revenue, each have a
local organization. Executives
have been appointed to head
teams and roll out development
plans, while Steering Committees
comprised of the main activity
managers and members of the
Group’s Executive Committee
meet on site twice a year. The goal
is to speed up and coordinate
growth initiatives and capital,
acquisition and partnership
projects.
Focus on new key
countries
Other countries including
Indonesia, Malaysia, Russia,
Thailand and Turkey represent
growth opportunities for the Group.
They have high-quality mineral
reserves, regional demand for
Imerys specialties is high and the
Group could develop there through
effective commercial partnerships.
Imerys’ goal is to reach a critical
mass in those countries in order to
create regional platforms.
HIGH-POTENTIAL COUNTRIES
EXTERNAL GROWTH
IMERYS
CLOSE-UP ON…
BRAZIL
Imerys has extensive presence
in Brazil, where three of its four
business groups have bases.
To step up its development in the
country, the Group completed
three growth projects in 2012:
• acquisition of Itatex,
• construction of a lime production
plant,
• purchase of a refractory bauxite
deposit.
More than
420 M€
revenue generated
by Brazil, China and India
in 2012
27%
share of emerging
countries in Imerys’
revenue in 2012
__13__
IN BRIEF 2012
Developing
our talent
Close-up on…
Imerys employer branding
Imerys’ Human Resources policy is
centered on skill development, quality
of working conditions and career
development opportunities.
INTERNATIONAL
INDUSTRIAL
OPEN-MINDED
WE ARE
IMERYS
THE WORLD LEADER IN MINERAL-BASED
SPECIALTY SOLUTIONS FOR INDUSTRY
Crédit photos : Masterfile
HUMAN CAPITAL
IMERYS
C
reating the conditions
that enable every
employee to develop
professionally is a core issue
for the Group.
Major events: induction
and training
Imerys strives to attract talented
young candidates and facilitate
their integration. In 2012, more
than 200 students did an internship
in the Group and 4 Welcome
Sessions were organized.
In parallel, Imerys continued its
training efforts. The Imerys
Lear ning Center organized
43 training courses, 13 of which
focused on team leadership.
Moreover, a Senior Leadership
Program for high-potential
managers was designed in
partnership with INSEAD and will
take place over the next two years.
Dynamic careers
Imerys offers employees of all
nationalities multiple career
possibilities, often with geographic
and functional mobility.
In 2012, many job moves and key
hires supported the Group’s growth
operations and its organization
changes. Management teams in
Brazil, China and India were also
bolstered and are ready to seize
growth opportunities.
More than 350
internal moves
in 2012
More than 10
nationalities
at each of the Welcome
Sessions
Disciplined management
An essential motivation and
cohesion factor, the Group’s
compensation policy is tightly
coordinated. In a context of
economic uncertainty, Imerys has
favored a comprehensive,
disciplined approach to base
salaries. Annual compensation
reviews are now consolidated at
Group level for management
teams.
Group spirit
To strengthen employees’ feeling
of belonging, the Group is also
working to raise the profile of its
umbrella brand “Imerys”.
__14__
With over 16 000 employees, 240 industrial sites in 47 countries and
8 research & development centers, and over 3.6 Billion Euros in revenue,
Imerys transforms a unique range of minerals to deliver essential
functions to its customers’ products and processes.
We are currently recruiting in Marketing and Strategy, Geology and
Mining, Engineering and Projects, Finance.
who approach each day with curiosity, open-mindedness and a positive
outlook. At Imerys, our employees can have a global career throughout
the world or stay locally with opportunities to network internationally.
With Imerys, the world leader in mineral-based specialty solutions
for industry, you will transform to perform.
We are looking for uncommon women and men who are from a variety
of backgrounds, experiences and cultures, who thrive on challenges, and
www.imerys.com
__15__
One orientation
in the Group’s
2012-2016 strategy
is the "More of
Imerys" challenge,
which consists of
capitalizing on the
Imerys brand to
increase its visibility.
“We are Imerys”, the
Group’s employer
branding, stems
from that goal. It
reflects Imerys’
employees’ mindset,
i.e. being responsible
and engaged and
creating value. It was
first implemented
in a worldwide
recruitment
campaign for young
graduates of leading
schools and
universities.
MINERALS FOR CERAMICS,
MINERALS FOR CERAMICS,
PIGMENTS FOR PAPER
PIGMENTS FOR PAPER
REFRACTORIES,REFRACTORIES,
ABRASIVES
ABRASIVES
& PACKAGING & PACKAGING
& FOUNDRY
& FOUNDRY
out more,
To find out more,
www.carrd.at
www.carrd.at
www.imerys-paper.com
www.imerys-paper.com
South America: South America:
www.imerysnopara.com.br
Minerals for Ceramics:
Minerals for Ceramics:www.imerysnopara.com.br
websites visit
of the
theGroup
websites of thewww.imerys-ceramics.com
Group
www.imerys-ceramics.com
merys.com
www.imerys.com
MATERIALS & MONOLITHICS
MATERIALS & MONOLITHICS
Minerals for Refractories:
Minerals for Refractories:
activities and its activities
www.damrec.com www.damrec.com
www.ags-mineraux.com
www.ags-mineraux.com Building Materials:Building Materials:
www.ceminerals.com
www.ceminerals.com www.ardoise-angers.fr
www.ardoise-angers.fr
www.imerys-molochite.com
www.imerys-molochite.com
www.imerys-toiture.com
www.imerys-toiture.com
www.imerys-rooftiles.com
www.imerys-rooftiles.com
Minerals for Oilfields:
Minerals for Oilfields: www.imerys-solaire.com
www.imerys-solaire.com
www.imerys-petroleumindustry.com
www.imerys-petroleumindustry.com
www.imerys-structure.com
www.imerys-structure.com
www.imerystc.com www.imerystc.com
Fused Minerals: Fused Minerals:
www.mamaison-terre-cuite.com
www.mamaison-terre-cuite.com
www.treibacher-schleifm.com
www.treibacher-schleifm.com
www.e-toiture.com www.e-toiture.com
www.ifme.eu
www.ifme.eu
Refractory Solutions:
Refractory Solutions:
Graphite & Carbon:Graphite & Carbon:
www.calderys.com www.calderys.com
www.timcal.com www.timcal.com
www.ikf-solutions.com
www.ikf-solutions.com
PERFORMANCEPERFORMANCE
& FILTRATION & FILTRATION
MINERALS
MINERALS
Performance Minerals:
Performance Minerals:
www.imerys-perfmins.com
www.imerys-perfmins.com
www.imerystalc.comwww.imerystalc.com
www.nonwovens.imerys.com
www.nonwovens.imerys.com
www.imerys-lqm.com
www.imerys-lqm.com
Filtration Minerals:Filtration Minerals:
www.imerys-filtration.com
www.imerys-filtration.com
www.celitecynergy.com
www.celitecynergy.com
www.advancedminerals.com
www.advancedminerals.com
www.imerysvermiculite.com
www.imerysvermiculite.com
Design and production :
Design and production :
e de l’Université
154, rue de l’Université
Paris — France
75007 Paris — France
Photo credits : Michel
Photo
Bost,
credits :
J-C Chapelain,
Michel Bost,
Tom J-C
Grow,
Chapelain,
Dominique
Tom
Lecuivre,
Grow, Dominique Lecuivre,
one: + 33 (0)
Telephone:
1 49 55 63
+ 33
00(0) 1 49 55 63
00 Nicolas Richez,
PGD,
PGD,
RodNicolas
Rolle, Thomas
Richez, Rod
Schauer,
Rolle,Patrick
Thomas
Sordoillet,
Schauer, Patrick Sordoillet,
Howard
le Butterfl
Spiers,
y, iStock,
MasterfiThinkstock,
le Butterfly, iStock,
Imerys Talc
Thinkstock, Imerys Talc
33 (0) 1 49Fax:
55 63
+ 33
01(0) 1 49 55 63 01 Howard Spiers, Masterfi
Luzenac France photo
Luzenac
library,France
Imerysphoto
photolibrary,
library,Imerys
RR, X photo library, RR, X
merys.comwww.imerys.com
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