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Magnezit and Shindong Enercom Sign Agreement

To date, a key principle of Magnezit Group’s strategy is to develop projects aimed at strengthening the company’s position in the world market. Cooperation with Shindong company, which has extensive work experience in South Korea and the former Soviet Union including Uzbekistan enables Magnezit Group to find new growth and continue effective business development in the Asian market. Magnezit Group offers its Asian customers the best value-quality deals in the supply of refractory materials, comprehensive engineering and service of heating units. Among Magnezit Group’s competitive advantages there are innovative technologies and modern production capacities, favorable geographic location, as well as highly skilled specialists. The resource base of Magnezit Group includes high-quality reserves of magnesite deposits in the territory of the Russian Federation, which allows the company to meet all requirements of production. Joint activity of Magnezit Group and Shindong Enercom Inc. is not limited to the refractory subjects. Companies are actively discussing opportunities for cooperation in other projects. Today Magnezit produces magnesia products, which are used in agriculture, construction and other industries. Expansion of applications sphere of the company’s products, as well as diversification of the product line are the key directions of Magnezit Group’s development strategy. Magnezit Group is an integrated company with headquarters in Satka (Russia), which provides for complete cycle of refractories production: from mining of raw materials up to engineering and operational maintenance. The structure of Magnezit Group includes production and maintenance enterprises in Russia, China, Slovakia and Ukraine, as well as a wide network of service and trade representative offices all over the world. Largest production facilities are located in the Chelyabinsk Region and the Krasnoyarsk Territory. Shindong Enercom Inc. is a South Korean company with headquarters in Seoul, that specializes in agriculture, construction, renewable energy and mining. (12/2012)

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