Imerys Talc America, the U.S. unit of French group Imerys SA and a supplier to healthcare conglomerate Johnson & Johnson Inc, on Wednesday said it was filing for Chapter 11 bankruptcy protection due to rising costs in the litigation over cosmetic talc.
“After carefully evaluating all possible options, we determined that pursuing Chapter 11 protection is the best course of action to address our historic talc-related liabilities and position the filing companies for continued growth,” Imerys Talc America said in a statement.
Imerys’ U.S. unit faces thousands of consumer lawsuits alleging that its talc causes cancer. The company supplied cosmetic talc to J&J for Johnson’s Baby Powder and other talc-based products.
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