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Magnesita Refratários S.A., one of the global leaders in the manufacture and sale of refractory solutions and industrial minerals, announces to its shareholders and the market in general that today it has completed the acquisition of Dalian Mayerton Refractories Co. Limited, a plant for manufacturing refractory materials, located in the city of Dalian (Liaoning Province, People´s Republic of China), with an installed production capacity of up to 50,000 tons per year of mag-carbon refractory bricks. Magnesita announced to the market that it had signed a definitive agreement to acquire DMR on April 22, 2013. The transaction is valued at approximately USD 22 million (including DMR’s existing liabilities) and includes all DMR´s assets and existing employees.
Magnesita expects to integrate the plant and achieve full production capacity of 50,000 tons of mag-carbon bricks within two years, with the possibility of further expansion in the future.
Following registration of equity purchase with the relevant authorities at the Dalian Municipal Administration for Industry and Commerce, the company will operate under the name Magnesita Refractories (Dalian) Co., Ltd.