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
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.