in brief 2013 - imerysfile/imerysinbrief… · in brief 2013 1 _ 2013 in brief imerys, mineral...

IN BRIEF 2013

1

_ 2013 IN BRIEF

IMERYS, MINERAL SOLUTIONS

FOR A CHANGING WORLD

RAIM013_ENBREF_GB_1-3_BAT.indd 1 17/04/14 19:09

Profile

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 eff ect, etc. – for its customers’ products and manufacturing processes.

Whether mineral components, functional additives, process enablers or fi nished products, Imerys’ solutions contribute to the quality of a great many applications in consumer goods, industrial equipment and 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.

WE ARE IMERYS

245industrial sites

3,698 M€ revenue

50countries

15,805 employees

477 M€ current operating income

• 03 Presence on a great number of markets

• 04 Our business: turning minerals into innovative specialties

• 05 Specialties for a wide range of applications

• 06 Leadership in four business groups

• 08 For a changing world: the six main lines of the Imerys model

• 09 Innovating to develop new applications

• 10 Expanding the Group’s geographic footprint

• 12 Broadening the activity portfolio

• 13 Banking on operating excellence and disciplined fi nancial management

• 14 Fostering diversity of talent

• 15 Sustainable Development, a global strategic orientation

Contents


IN BRIEF 2013

3

PRESENCE ON A GREAT NUMBER OF MARKETS_

Imerys serves a wide range of industries, guaranteeing balanced exposure to diff erent economic cycles. The Group’s sales are spread across 20 or so markets, including these examples._

HORTICULTURE, PROTECTION OF FLORA

Aquaponics, UV production, repellents…

ENERGY

Batteries, photovoltaic cells and panels, oil and gas fi elds…

AGRI-FOOD

Filtration of beer, wine, drinking water and fruit juice…

ELECTRONICS

Device structure, processors, semi-conductors…

HEALTH, BEAUTY & CARE

Deodorant, skin creams, toothpaste, hygiene products…

CONSTRUCTION

Roof tiles, cement manufacturing, window profi les…

DECORATIVE MATERIALS AND FITTINGS

Sanitaryware, tableware, flooring, paint, floor tiles…

STEELMAKING AND METALLURGY

Refractory linings for furnaces…

PAPER

Catalogues, advertising materials, brochures, magazines, specialty papers…

AUTOMOTIVE, INDUSTRIAL EQUIPMENT AND CONSUMER DURABLES

Plastics, batteries, paint, tooling, bodywork…

PACKAGING

Board, plastic fi lm…

3


IMERYS

4

HIGH-QUALITY MINERALS

The Group mines or processes a range of about 30 minerals. On its 115 mining sites it holds an average of 20 years’ high-quality mineral reserves. Thanks to teams who are dedicated to exploring additional resources, Imerys guarantees its customers a lasting supply. In addition, a number of minerals (bauxite, alumina, zirconium, magnesia, etc.) are purchased from external suppliers for processing by the Group.

By selecting relevant techniques for the characteristics of every deposit, Imerys can extract minerals with an economically effi cient yet environmentally-friendly approach. Sites at the end of their lives are restored in the best possible conditions. Restoration plans are studied from the outset of mine opening projects, under a Group-wide responsible management process.

KNOW-HOW IN BENEFICIATION AND PROCESSING

To obtain the required properties and so add value, minerals are processed using various technologies, many of which are specifi c to Imerys, e.g. grinding, grading, drying, calcination, sintering, melting, bleaching, surface chemistry, magnetic purifi cation, and fl otation, but also shaping processes such as pressing, extrusion, granulation and casting.

Minerals are processed to optimize their intrinsic properties in order to obtain the required characteristics and specifi cations, for example strength, conductivity, coverage or barrier eff ect. The Group thus calls substantial resources into play to innovate in line with its customers’ needs: 300 scientists, eight Research & Development centers, 20 market-focused regional laboratories and collaborations with renowned institutes.

OUR BUSINESS: TURNING MINERALS INTO INNOVATIVE SPECIALTIES_

Analyzing customers’ needs, proposing relevant innovative solutions and transforming minerals to obtain the required properties: this is Imerys’ core business. _


IN BRIEF 2013

5

_

Imerys produces mineral-based specialties that meet four types of industrial needs and represent a great number of product applications._

SPECIALTIES FOR A WIDE RANGE OF APPLICATIONS

THE FOUR PRODUCT TYPES:

1 Mineral components

2 Functional additives

3 Manufacturing process enablers

4 Finished products

The Group’s mineral-based specialties deliver functionalities ranging from impermeability, whiteness and strength to energy effi ciency, conductivity, purity and even longevity.

1 2 3 4

Here are some examples of mineral solutions.

• Graphite is converted to meet the specifi cations of mobile energy and precision engineering (lithium-ion batteries, brake pads).

• Diatomite and perlite are fi ltration agents for edible beverages.

• Electrofused magnesia is used in domestic appliances (dishwashers, cookers…) to guarantee high electrical resistance and low heat conductivity.

• Monolithic refractories are used as linings in high-temperature industries (steelmaking, foundry…).

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IMERYS

6

The Performance & Filtration Minerals and Kaolin activities cover a wide range of applications in technical fi elds, e.g. plastics, paint, rubber, personal care, health & beauty, and paper.

The business group is comprised of four activities: Carbonates, Monolithic Refractories, Graphite & Carbon and Oilfi eld Solutions. It serves the following industries in particular: personal care, health & beauty, paper, steelmaking, foundry, mobile energy, oil and gas fi elds.

Filtration & Performance Additives

Energy Solutions & Specialties

LEADERSHIP IN FOUR BUSINESS GROUPS

Carbonates

Monolithic Refractories

Graphite & Carbon

Oilfi eld Solutions

Performance & Filtration Minerals

Kaolin

75industrial sites

28 countries

€1,248 million revenue in 2013 (34% of Group total)

64 industrial sites

17 countries

€1,132 million revenue in 2013 (30% of Group total)

49%40%

8%

3%

32 %

42% 58%

World #1 in talc for plastics, paint, paper, ceramics, health & beauty

World #1 in mica

World #1 in diatomite- and perlite-based products for fi ltration

World #1 in kaolin for paper

World #1 in minerals for breathable polymer fi lms

World #2 in carbonates for paper

World #1 in silico-aluminous monolithic refractories

World #1 in conductive additives for Li-ion batteries


IN BRIEF 2013

7

71 industrial sites

18 countries

€703 million revenue in 2013 (19% of Group total)

34 industrial sites

12 countries

€654 million revenue in 2013 (17% of Group total)

Through its three activities, the Ceramic Materials business group is active on a great number of markets, including construction, renewable energies, electrometallurgy, sanitaryware & tableware. It off ers innovative products such as photovoltaic and clay roof tiles, high-performance ceramic solutions or high-temperature kiln furniture.

The business group, positioned upstream of the industrial equipment chain (steelmaking, industrial and automotive sectors), has expertise in manufacturing processes in high-temperature environments. It designs mineral specialties with functionalities such as heat resistance, strength, abrasiveness, purity and conductivity.

High Resistance MineralsCeramic Materials

Fused Minerals

Refractory Minerals

Building Materials

Minerals for Ceramics

Kiln Furniture

32 %

59%41%50%

4%

46%

French #1 in roof tiles

World #1 in raw materials and ceramic bodies for sanitaryware

World #2 in kaolin for glass fi ber

World #1 in kiln furniture for roof tiles

World #1 in silico-aluminous minerals for refractories

World #1 in fused minerals for abrasives

World #1 in fused zirconium


IMERYS

8

IMERYS 2012

FOR A CHANGING WORLD

THE SIX MAIN LINES OF THE IMERYS MODELIn a fast-changing world, Imerys is staying on course by founding its development strategy on innovation, geographic expansion, and activity diversifi cation into high-growth markets. This model makes sustainable development an integral part of business.


IN BRIEF 2013

9

Understanding our customers’ businesses, solving their technical problems, meeting their expectations and anticipating their needs is the starting point for Imerys’ Innovation approach. The Group’s 28 research centers are comprised of eight main facilities (specialized in certain minerals) and 20 regional laboratories. This closeness to customers enables teams to identify new expectations and therefore develop new solutions.

SUPPORTING GROWTH By creating new products and processes, the Group helps its customers to meet new challenges. “Disruptive” innovations, based on the development of new concepts, exist alongside “continuity” innovations that stem from improvements to the existing range. Together, they enable the Group to develop its product off ering and its competitiveness. This strategy serves an ambitious objective: contributing €700 million in additional revenue by 2016.

INNOVATING TO DEVELOP NEW APPLICATIONS

With 1.6% of its revenue given over to Research & Development, Imerys is achieving its aim of making innovation the driver of its organic growth.

PROTECTING INNOVATION CAPITAL

Innovation, a valuable asset for Imerys, is protected by a relevant intel lectual property pol icy. Approximately 3,500 trademarks have been registered or are in the registration process, while the Group holds more than 1,000 patents and patent applications and over 220 industrial and utility models. This portfolio is regularly rationalized to optimize its cost. To ensure eff ective protection for its name, the Group has fi led the “Imerys” trademark in 90 countries.

More than 65 new products launched in 2013

Almost €60 million allocated to innovation in 2013

+ 7% compared with 2012

Focus on…KERAVIVATM, A CONCRETE ALLYPatented by Imerys Ceramics, KeravivaTM involves hot-spraying a thin layer of colored ceramic onto concrete. This protects the material without aff ecting its mechanical properties. KeravivaTM resists frost, ultraviolet rays, chemicals and fi re. It makes graffi ti and lichens easier to clean off without impairing the original color. The many outlets range from street furniture and building facades to direction signage.


IMERYS

10

2013 was marked by a gradual stabilization of the European economy. In North America, sustained demand was especially noticeable in construction and consumer durables. The growth rate was more moderate in emerging countries. More than ever, geographic diversifi cation is a crucial factor in maintaining the Group’s profi tability and seizing any internal and external growth opportunities.

INCREASING PRODUCTION CAPACITIES

Internal growth particularly includes strengthening production capacities worldwide. In 2013, Imerys built a lime plant in Doresópolis (Brazil) to benefi ciate its local calcium carbonate reserves. In Bahrain, a fused alumina plant, the Group’s first production facility in the Middle East, started production in the fi rst months of 2014.

EXPANDING PRESENCE ON PROMISING MARKETS

Imerys’ international expansion also entails a targeted external growth strategy. In April 2013, the Group acquired PyraMax Ceramics LLC in the United

States, a ceramic proppant production complex, to bolster its industrial assets in Oilfi eld Solutions. In Asia, Imerys completed two acquisitions in Monolithic Refractories (cf. “Focus on…”).

ESTABLISHING BASES IN EMERGING ZONES

Emerging countries are a major growth lever for Imerys’ activities. The Group is building its development there and has increased its presence substantially in the past 12 years. Imerys targets the most attractive countries, i.e. those where it already has mining, industrial or commercial bases (Brazil, India, South Africa and China) and those which off er signifi cant outlets for its mineral specialties and the possibility of building effective commercial partnerships (Indonesia, Malaysia, Thailand, Russia, Turkey, etc.).

EXPANDING THE GROUP’S GEOGRAPHIC FOOTPRINT

Imerys regularly invests to extend its geographic presence and, as a result, increase its exposure to fast-growing markets and sectors, in both mature economies and emerging markets.

26% of revenue achieved

in emerging countries compared

with 6% in 2001


IN BRIEF 2013

11

Imerys’ joint venture with Indoporlen, the Indonesian leader in monolithic refractories (revenue €15 million in 2012) enables the Group to expand its industrial base in Indonesia, creating a robust platform for development.

In Japan, the acquisition of Tokai Ceramics, a renowned producer of monolithic refractories (approx. €7 million revenue in 2012) allows Calderys, which has been active in the country for more than 30 years, to hold a production facility for the fi rst time.

Oilfi eld Solutions

Graphite & Carbon

Monolithic Refractories

Carbonates Refractory Minerals

Minerals for CeramicsKaolin

Performance & Filtration Minerals

Building Materials

Fused Minerals

Energy Solutions & Specialties Filtration & Performance Additives Ceramic Materials High Resistance Minerals

Kiln Furniture

Focus on…CALDERYS INCREASES ASIAN PRESENCE


IMERYS

12

Mobile energy, packaging, environ-ment, non-conventional oil and gas fi elds, health and beauty, automotive, aerospace and more: Imerys is active in all of these promising sectors, guiding its choices for capital expenditure and acquisitions.

DEVELOPING IN OILFIELD SOLUTIONS

For several years, Imerys has sought to establish itself on non-conventional oil and gas fi eld operations in the United States through ceramic proppants. With the prospect of a highly promising market, the Group undertook research, filed patents, built an initial plant in Georgia in 2012, then acquired PyraMax in 2013 (cf. “Focus on…”).

TARGETING MOBILE ENERGYOther profi table segments, including mobile energy for electronic devices and electric vehicles, are the focus of capital expenditure and a development driver for the Graphite & Carbon activity. For example, the carbon black plant in Willebroek, Belgium, doubled its production capacity.

MOVING INTO RENEWABLE ENERGIES

In 2011, the Group joined forces with Norwegian Crystallites AS to meet growing demand for high-purity quartz, particularly for the photovoltaic industry. The Group is also innovating in sustainable housing with its ready-to-fit photovoltaic tiles for new or renovated roofs.

MAKING THE RIGHT CHOICESA focus on high-growth sectors entails the rationalization of less dynamic activities. Under that rationale, the Group completed the divestment of its Imerys Structure activity (wall and partition bricks, chimney blocks) to Bouyer-Leroux. Imerys also divested four calcium carbonate production sites serving the paper market in Europe and the United States.

BROADENING THE ACTIVITY PORTFOLIO

Imerys’ mineral specialties, already present on many markets, are set to win over new sectors with high growth potential.

Focus on…STRATEGIC ACQUISITION OF PYRAMAX

With the acquisition of PyraMax Ceramics LLC in 2013, Imerys gained a new proppants production unit, strengthening its industrial assets in Oilfi eld Solutions in the United States. This will enable the Group to increase its production capacity from 100,000 to 325,000 tons and ramp up faster to serve the booming non-conventional hydrocarbons market in the USA. The Group is aiming for €150 million revenue in this area by 2016.


IN BRIEF 2013

13

Imerys is a decentralized group but in 2012 it set up an Industrial Department with the role of disseminating best practices and techniques. In addition to cost reduction, this approach comes under an overall continuous improvement process designed to combine effi ciency and eff ectiveness.

CREATING AN INTERNAL FRAMEWORK

A key component of this operating excellence approach is the monitoring of 14 key indicators rolled out on all production sites since the end of the fi rst half of 2013. Calculated using a common, Group-wide methodology, they are tracked site by site and consolidated at activity, business group and, Group levels. Positive fallout has been recorded since the indicators were set up, in terms of energy consumption in Europe and North America, and supply and production processes in South America.

INSTILLING A MINDSETTo ensure all units have a common culture and practices, “Imerys Operational Excellence” training is being rolled out for both management and the teams on the ground. The aim is to center processes on employees by engaging them in a continuous improvement dynamic. Three pilot sessions took place in Europe in 2013 and will be continued in 2014 with around ten new sessions, expanding into the Americas.

ROLLING OUT PERFORMANCE

Launched in 2014, the “Imerys Industrial Improvement” program will strengthen ownership of the performance by all employees and enhance their grasp of industrial processes to improve the results of the Group’s mines and plants. Around 10 reference sites will be named to set up operational excellence tools and a cross-functional team will be formed to speed up dissemination of best practices.

BANKING ON OPERATING EXCELLENCE AND DISCIPLINED FINANCIAL MANAGEMENT

Imerys constantly optimizes its industrial assets to adapt them to market trends, control costs and increase its flexibility and competitiveness.

80%of production managers trained in operating excellence in 2014

14key industrial performance indicators

Focus on…DISCIPLINED CASH MANAGEMENTIn a diffi cult economic context, optimizing working capital requirement (WCR) and cash-fl ow control drives cash generation and strengthens Imerys’ ability to fi nance its internal and external growth. The entire company has rallied round this goal through a great number of initiatives, including a dedicated intranet, bespoke training, and specifi c assignments to identify improvement areas and propose customized support in rolling out action plans.


IMERYS

14

FOSTERING

DIVERSITY OF TALENT

Imerys would be unable to develop or evolve without the quality and commitment of its employees. Its teams, made up of men and women from every profession and every background, are united by their spirit of enterprise.

In 2013, the Group continued to develop its organization, making many career developments possible. Training efforts and the rollout of certain sustainable development goals were stepped up. Finally, the Group made its compensations and benefi ts policy more effi cient. SUPPORTING AND TRAININGTo evolve in line with changes in organization, Imerys kept up its recruitment and internal mobility efforts and stepped up its training actions in 2013. Imerys Learning Center launched two new programs, “Sales Excellence”, designed to improve teams’ commercial & marketing performance, and “Operational Excellence”, which gives managers tools to improve the performance of industrial facilities. In addition, the “Senior Leadership Programme” created with INSEAD in 2012 improved the management and leadership skills of many current or future Group executives.

SHARING CORPORATE CULTURE

Cohesive relations between employees and the strength of their connection to the Group are important aspects of Human Resources policy. Many initiatives were rolled out internally for that purpose, including cross-Group seminars by profession to share best practices, a magazine, an enterprise social network and multi-media tools for sharing information.

HARMONIZING COMPENSATION SYSTEMS

The business units in the various countries where the Group is active are gradually aligning their compensation and benefi ts practices on the highest international standards. In Brazil, for example, across-the-board salary increases will now be limited to an annual compensation ceiling. In Indonesia, Indoporlen, a company acquired in 2013, also improved its complementary benefi ts system with the setup of life insurance coverage for all employees and better healthcare coverage for management personnel.

1,000 hourshours training given out by Imerys Learning Center

31% share of women in the workforce (salaried employees category)

Focus on …A STRONG COMMITMENT TO DIVERSITYOne of Imerys’ strengths is the diversity of its employees: men and women from many nationalities and cultures who work together and share common goals. The Group’s Diversity Charter sets down Imerys’ commitment in this area. Diversity programs were set up in fi ve countries in 2013. A Women’s Mentoring Programme was launched in late 2013, to focus on the women career development, especially those in operational positions.


IN BRIEF 2013

15

In 2013, after analyzing the most signifi cant Sustainable Development issues and the relevant stakeholders, Imerys decided to strengthen its process along three main lines focusing on social, environmental and governance issues.

KEEPING EVERYONE’S HEALTH AND SAFETY

Preventing workplace health and safety risks is one of Imerys’ priorities. The Group’s action in this area is built on clearly defi ned lines: regular audits, a global training plan, a behavior-based safety program, an accident analysis program and a serious accident prevention plan, as well as events designed to consolidate safety culture on key sites.

CONTROLLING ENVIRONMENTAL IMPACTS Imerys’ activities involve natural resources such as minerals, soil, energy and water. The Group constantly strives to reduce its environmental footprint and use those resources efficiently through a common approach across all of its activities.

All units have set up an Environmental Management System (EMS) and 81 of them are also ISO 14001 or EMAS certified. These EMS are fully integrated into the Group’s EHS (Environment, Health & Safety) audit program, with 15 sites visited in 2013.

GUARANTEEING ETHICAL CONDUCT

As regards governance, a cornerstone of the Sustainable Development process, the Group promotes ethical business conduct rules and deploys training programs and self-assessment systems to check that practices are compliant. These eff orts were continued in 2013, including an update of the anti-fraud and anti-corruption policy.

SUSTAINABLE DEVELOPMENT, A GLOBAL STRATEGIC ORIENTATION

Sustainable Development is a crucial component of Imerys’ long-term strategy, in order to support growth and promote responsible social and environmental management.

Focus on…ENCOURAGING CONSTRUCTIVE DIALOGUnder its “Community Relations” protocol, Imerys offi cially delegates responsibility for community relations to the most senior employee in charge of managing each facility. The protocol requires every site to map its stakeholders and draw up an action and continuous improvement plan. It also encourages constructive dialogue with stakeholders and requires a response to any admissible complaints they make.

1.31 combined lost-time accident frequency rate (-57% vs. 2009)

100% of sites have an EMS


IMERYS

16

154, rue de l’Université 75007 Paris– FranceTelephone: + 33 (0) 1 49 55 63 00Fax: + 33 (0) 1 49 55 63 01

To fi nd out more,

visit the websites of the Groupwww.imerys.com and its activities

ENERGY SOLUTIONS & SPECIALTIES

Carbonates:www.imerys-carbonates.com www.imerys-lqm.com

Monolithic Refractories:www.calderys.fr

Graphite & Carbon:www.imerys-graphite-and-carbon.com

Oilfi eld Solutions:www.imerys-oilfi eldsolutions.com

FILTRATION & PERFORMANCE ADDITIVES

Performance & Filtration Minerals:www.imerys-perfmins.com www.imerystalc.com www.imerys-fi ltration.com www.celitecynergy.com www.advancedminerals.com www.insulation.imerys.com www.imerplast.com www.imerys-specialitiesjapan.com www.imerysvermiculite.com

Kaolin:www.imerys-paper.com www.imerys-perfmins.com www.imerysnopara.com.br

CERAMIC MATERIALS

Building Materials:www.imerys-toiture.com www.imerys-rooftiles.com www.e-toiture.com www.imerys-solaire.com

Minerals for Ceramics:www.imerys-ceramics.com www.imerys-aurora.com ww.thequartzcorp.com

Kiln Furniture:www.ikf-solutions.com

HIGH RESISTANCE MINERALS

www.carrd.at

Refractory Minerals:www.imerys-refractoryminerals.com www.damrec.com www.ceminerals.com www.ags-mineraux.com www.imerys-molochite.com

Fused Minerals:www.imerys-fusedminerals.com www.ifme.eu

Design and production:

Photo credits: Michel Bost • Dominique Lecuivre • Claire Morel Fatio • Nicolas Richez • Howard Spiers • Heiko Schnitzer • Imerys Talc photo library Europe: J. Sierpinski. • Getty Images • iStock • Thinkstock • Imerys photo library, RR, X

Print: TI Médian impressions. This document is printed on FSC certifi ed papercontaining Imerys pigments.

RAIM013_ENBREF_GB_16_BAT.indd 16 17/04/14 19:12

IMERYS

16

154, rue de l’Université 75007 Paris– FranceTelephone: + 33 (0) 1 49 55 63 00Fax: + 33 (0) 1 49 55 63 01

To fi nd out more,

visit the websites of the Groupwww.imerys.com and its activities

ENERGY SOLUTIONS & SPECIALTIES

Carbonates:www.imerys-carbonates.com www.imerys-lqm.com

Monolithic Refractories:www.calderys.fr

Graphite & Carbon:www.imerys-graphite-and-carbon.com

Oilfi eld Solutions:www.imerys-oilfi eldsolutions.com

FILTRATION & PERFORMANCE ADDITIVES

Performance & Filtration Minerals:www.imerys-perfmins.com www.imerystalc.com www.imerys-fi ltration.com www.celitecynergy.com www.advancedminerals.com www.insulation.imerys.com www.imerplast.com www.imerys-specialitiesjapan.com www.imerysvermiculite.com

Kaolin:www.imerys-paper.com www.imerys-perfmins.com www.imerysnopara.com.br

CERAMIC MATERIALS

Building Materials:www.imerys-toiture.com www.imerys-rooftiles.com www.e-toiture.com www.imerys-solaire.com

Minerals for Ceramics:www.imerys-ceramics.com www.imerys-aurora.com ww.thequartzcorp.com

Kiln Furniture:www.ikf-solutions.com

HIGH RESISTANCE MINERALS

www.carrd.at

Refractory Minerals:www.imerys-refractoryminerals.com www.damrec.com www.ceminerals.com www.ags-mineraux.com www.imerys-molochite.com

Fused Minerals:www.imerys-fusedminerals.com www.ifme.eu

Design and production:

Photo credits: Michel Bost • Dominique Lecuivre • Claire Morel Fatio • Nicolas Richez • Howard Spiers • Heiko Schnitzer • Imerys Talc photo library Europe: J. Sierpinski. • Getty Images • iStock • Thinkstock • Imerys photo library, RR, X

Print: TI Médian impressions. This document is printed on FSC certifi ed papercontaining Imerys pigments.

RAIM013_ENBREF_GB_16_BAT.indd 16 17/04/14 19:12

in brief 2013 - imerysfile/imerysinbrief… · in brief 2013 1 _ 2013 in brief imerys, mineral...

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