Magnezit Group divests German subsidiary Dalmond Feuerfest Siegburg

Magnezit Group today announced the divestment of its German subsidiary Dalmond Feuerfest Siegburg GmbH. Dalmond Feuerfest Siegburg has been taken over by INTOCAST AG situated in Ratingen effective as of the 1st January 2012. The value of the transaction was not disclosed.

Dalmond Feuerfest Siegburg became part of Magnezit Group in 2007. With its focus on shaped and unshaped refractories it contributed to the successful expansion of the refractory business of Magnezit Group in Western Europe and to the improvement of the effectiveness of modern technologies introduction in production facilities in Russia.

"Today the company concentrates its efforts on the development of innovative and advanced products," pointed out General Director of Magnezit Group Sergei Odegov. - "We offer multifunctional refractories, which allow our partners to increase the service life of thermal units, reduce operational costs and improve profitability of our customers.“ In 2012 Magnezit Group will put in operation new facilities in the Chelyabinsk region and in the Krasnoyarsk Territory, with the target to manufacture refractories on the highest quality level for the global market.

Magnezit Group is a recognized world leader in the area of magnesia refractories. The company is fully integrated from mining of raw materials to engineering and operational service. The groupincludes 15 production and servicing sites in Russia, Ukraine, China and Slovakia. Sale and customer service is carried out by a worldwide network of servicing and trading companies and representative offices, including Magnezit Europe GmbH in Ratingen, Germany, for the European Union.

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