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AFARAK GROUP ACQUIRES MAGNOHROM

16:00 , 18:00 , - ("Afarak" or "the Company")LondonHelsinkiMay 17, 2018Afarak Group Plc

 

AFARAK GROUP ACQUIRES MAGNOHROM

 

SPA signed forEUR1 million

Magnohrom has confirmed reserves of 4 million tons of ore

 

announces the signing of a Sale Purchase Agreement for Magnohrom, a leading refractory material company with ore mines and production facilities in Kraljevo, .Afarak GroupSerbia

Following the completion of the 2-year sintered magnesite test project at the Magnohrom plant, has acquired the operation and the mining rights for various magnesite mines with confirmed reserves of over 4 million tons of ore. has acquired the business for .AfarakAfarak GroupEUR1 million

, CEO of said that, "The acquisition of Magnohrom allows to supply the growing refractory material industry. The Magnohrom mines have confirmed reserves of over 4 million tons of quality ore and will be investing in upgrading the technology and equipment at the mines and processing units."Guy KonsbruckAfarakAfarakAfarak

 

Guy Konsbruck

CEO

Afarak Group

 

For additional information, please contact:

, CEO, +356 2122 1566, Guy Konsbruck[email protected]

, +356 2122 1566, Jean Paul Fabri[email protected]

Financial reports and other investor information are available on the Company's website: .www.afarak.com

is a specialist alloy producer focused on delivering sustainable growth with a Speciality Alloys business in southern and a FerroAlloys business in . The Company is listed on NASDAQ Helsinki (AFAGR) and the Main Market of the (AFRK).Afarak GroupLondon Stock ExchangeEuropeSouth Africa

Distribution:

NASDAQHelsinki

London Stock Exchange

Main media

www.afarak.com

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: via Globenewswire

Afarak Group




Quick facts: Afarak Group PLC

Price: 30

Market: LSE
Market Cap: £75.2 m
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