Imerys Minerals Ltd has completed the acquisition of fellow china clay producer, Goonvean Ltd.
News of the acquisition was first announced in November 2012, but earlier this year the Office of Fair Trading referred it to the Competition Commission.
The agreement details the pricing controls that will apply with UK Performance Minerals customers over the next five years, noting that trading with these customers represents approximately 2% of overall sales volumes of the combined companies.
Imerys Minerals Ltd director, Ashley Shopland, said: “This is good news for the Mid Cornwall China Clay industry. It means that we can now proceed with the full integration of Goonvean Ltd into Imerys, including the completion of the legal merger of the two companies on the 1st January 2014. The operational integration of the businesses will commence soon afterwards.
“The last 14 months have been very demanding, during which an enormous amount of work has been completed by a great number of people within both Imerys and Goonvean. I would like to take this opportunity to publically express my thanks to all those people for their hard work and professionalism which has helped us to achieve a successful outcome to the regulatory review process.
“We can now all look forward to developing a more sustainable and competitive china clay business in the years to come that will continue to provide high performance quality products that meet our customers’ requirements.”