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Thursday, February 13, 2014

Imerys says adjusted net profit up 1.2 percent for 2013, (NYSE: ACO)

French minerals company Imerys said on Thursday that 2013 net profit, excluding items, rose by 1.2 percent as operating margins improved slightly, helped by a stabilized environment in Europe. Net profit, excluding restructuring costs in various markets, rose to 304.2 million euros ($415.7 million), or 4.03 euros per share, from 300.7 million euros, or 4.00 euros per share, a year earlier.Sales fell by 4.8 percent to 3.698 billion euros.On Wednesday, Imerys said it had agreed to purchase Illinois-based minerals and materials group AMCOL International Corp for about $1.6 billion, including debt.The deal is expected to strengthen Imerys' U.S. business and boost earnings per share from 2015.

AMCOL International Corporation (AMCOL) is focused on the development and application of minerals and technology products and services to various industrial and consumer markets. Shares of ACO traded higher by 0.17% or $0.07/share to $41.31. In the past year, the shares have traded as low as $27.59 and as high as $37.05. On average, 119907 shares of ACO exchange hands on a given day and today's volume is recorded at 315915.