Magnezit Group Bought SLOVMAG Refractory Plant

Magnezit Group bought 99.6% stake of SLOVMAG, Lubenik, Slovakia, the largest producer of refractory materials in Eastern Europe. The works operates a complete cycle of production of magnesia products and unmolded materials including magnesite excavation and dressing, magnesite powders production, molding and burning. Production capacity of the works exceeds 80 thou tons of products and 30 thou tons of unmolded materials a year. The high quality magnesite deposit volume of the works reaches 10 mln tons which may be enlarged due to additional exploring.
The works operated modern technological equipment and produces a broad range of refractory products:
- Burnt periclase, periclase-chrome, and chrome -periclase materials;
- Unburnt chemically bound periclase, periclase-chrome and periclase-carbon materials;
- Repairing masses, gunning masses, mortars;
- Sintered periclase powders and caustic magnesia powders of collected dust.
Buying of SLOVMAG will help Magnezit Group extend its customers base and increase sales volumes in the European as well as the CIS markets. Besides, such a transaction will enable the Group to considerably strengthen its competitive positions in such segments of the market as materials for the cement industry and unmolded refractory materials. Due to a good geographical location of the works Magnezit Group can optimize orders distribution among its production facilities and considerably save on delivery of raw materials.
“It is the most important step to fulfillment of projects of the Group on becoming a leader in the world refractory industry and diversification of sales markets. Buying of SLOVMAG provides new opportunities for the company’s growth”, said V. Dunaev, Chairman of Board of Directors, Magnezit Group.