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Magnezit Group, Mitsui Bussan Metals Co., Ltd. and OOO «╠itsui and Co. Moscow» signed Memorandum on cooperation

Magnezit Group (Satka, Chelyabinsk region), the biggest Russian manufacturer of refractories, signed Memorandum on cooperation with the Japanese corporation Mitsui during visit of executives of the Russian company to Japan in December.

As general director of Magnezit Group Segei Odegov said at the ceremony of signing of the Memorandum, cooperation with one of the leaders of Japanese industry will allow the Russian company to increase capacities for production of fused periclase. In its turn the Japanese concern will find in Magnezit Group a long-term partner for deliveries of the high-quality product. In the future the parties suppose to conclude a long-term contract for delivery of 4 thousand tons of fused periclase.

According to the terms of the agreement payment will be effected in 2018 and guaranteed shipments will be done during the period till 2020.

«This agreement proves strong demand for high-grade products of Magnezit Group on the foreign market, where competition is very tough», — emphasized Sergei Odegov.

Fused periclase is a basis for all high quality refractory products. The distinctive feature of fused materials is their high density and considerable corrosion resistance. In refractory technology fused periclase holds a special place as with its help it becomes possible to manufacture products possessing increased resistance and to develop high-performance processes in metallurgy, chemical technology, production of construction materials, power engineering, instrument engineering and other branches of industry.

The Company Mitsui & Co., Ltd., the parent company Mitsui Bussan Metals Co., Ltd. and ╬╬╬ «╠itsui and Co. Moscow» form one of the most diversified world corporation carrying on activities in the field of trade, investment and services. The main directions of the companyĺs activity are trade and investment in the extraction and processing of mineral resources, oil and gas, manufacturing of steel products, equipment, development of infrastructure (mainly in power engineering and railway transport), automotive and chemical industries, IT and others.

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