Specialty chemicals company Elementis Plc said it had sold its Talc business to Italy's IMI Fabi for an enterprise value of $121m and would start a £50m share buyback.
The sale comes as Elementis' repositions itself as a pure-play specialty chemicals operation focused on value-added additives in the high-margin coatings and personal care markets.
Elementis said the deal improves adjusted operating profit margin by approximately 240 basis points and accelerates delivery of its 2026 financial targets.
"The group's positive outlook for this financial year remains unchanged from that set out in our Q1 trading update on 29 April 2025," it said on Tuesday.
Reporting by Frank Prenesti for Sharecast.com