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17.01.08

Magnezit Group acquired one the biggest in Eastern Europe plant for production of refractory materials

Magnezit Group acquired 99,6% of shares of the plant SLOVMAG, Lyubenik, Slovakia which is the biggest producer of refractory materials in Eastern Europe.

The plant has full production cycles for production of magnesia shaped and unshaped refractories including mining and beneficiation of magnesite, production of of magnesia powders, pressing and burning of bricks. Production capacities of the plant surpass 80000 tons of shaped refractories and 30 000 tons of unshaped materials per annum. Reserves of high quality magnesites are about 10 mln. tons and it is quite possible that after additional exploration works these volumes will be increased.

The plant possesses modern park of technological equipment and produces a wide range of refractory products: - burned periclase, periclase chrome and chrome periclase, periclase spinel bricks; - unburned periclase, periclase chrome and periclase carbon shapes on chemical binder; - repair and gunning masses, mortars of basic composition; - sintered periclase powders and caustic magnesia powders made from trapped dust;

Acquisition of SLOVMAG enables Magnezit Group to expand its customers base, to increase volumes of salable products on the European market and on the CIS market as well. With acquisition of the plant Magnezit Group counts on considerable strengthening of its competitive positions in such perspective segments of the market as bricks for cement industry and unshaped refractory materials. Advantageous geographic location of the plant makes it possible to optimize orders distribution from customers among production sites and to obtain considerable savings for delivery of raw materials. .

«It is an important move aimed at implementation of plans of the Group for achievement of leadership in the world refractory industry and diversification of product markets. Acquisition of SLOVMAG opens up new possibilities for the company growth? – said Chairman of the Board of directors of Magnezit Group Vladimir Dunayev.

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