FD steers Imetal through English China Clays bid

Financial Dynamics has won a two-way competitive pitch to handle PR for French minerals and metals group Imetal, which this week launched an unsolicited pounds 680 million bid for UK minerals and chemicals company English China Clays.

Financial Dynamics has won a two-way competitive pitch to handle PR

for French minerals and metals group Imetal, which this week launched an

unsolicited pounds 680 million bid for UK minerals and chemicals company

English China Clays.



FD’s work is worth a six-figure annual fee and will initially last for

the duration of the bid, although the account may be extended beyond

then.



The agency’s brief involves promoting Imetal among investor and

regulatory audiences, including the media and city analysts. FD director

Hugh Morrison, who leads the account, reports directly to Imetal chief

executive Patrick Kron.



Kron said: ’We are keen to raise our profile in the UK and ensure the

various parties with an interest in English China Clays fully understand

the attractiveness of our cash offer.’



Fifty per cent of Imetal’s shares are jointly owned by Belgian-based

industrial conglomerate Frere Group and Canada’s Desmarais family. The

remaining half are listed on the Paris bourse.



The company has interests in 16 countries, but acquiring English China

Clays would represent Imetal’s first foray into the UK market. Imetal

registered a turnover of pounds 1.3 billion in 1997 and a profit of

pounds 100 million.



English China Clays employs Smithfield Financial as its PR agency.



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