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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Afarak Group Se | LSE:AFRK | London | Ordinary Share | FI0009800098 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 20.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Offices-holdng Companies,nec | 201.34M | 47.72M | 0.1937 | 1.03 | 49.27M |
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TIDMAFAGR
16:00 London, 18:00 Helsinki, May 17, 2018 - Afarak Group Plc ("Afarak"
or "the Company")
AFARAK GROUP ACQUIRES MAGNOHROM
SPA signed for EUR1 million
Magnohrom has confirmed reserves of 4 million tons of ore
Afarak Group announces the signing of a Sale Purchase Agreement for
Magnohrom, a leading refractory material company with ore mines and
production facilities in Kraljevo, Serbia.
Following the completion of the 2-year sintered magnesite test project
at the Magnohrom plant, Afarak has acquired the operation and the mining
rights for various magnesite mines with confirmed reserves of over 4
million tons of ore. Afarak Group has acquired the business for EUR1
million.
Guy Konsbruck, CEO of Afarak said that, "The acquisition of Magnohrom
allows Afarak to supply the growing refractory material industry. The
Magnohrom mines have confirmed reserves of over 4 million tons of
quality ore and Afarak will be investing in upgrading the technology and
equipment at the mines and processing units."
Guy Konsbruck
CEO
Afarak Group
For additional information, please contact:
Guy Konsbruck, CEO, +356 2122 1566, guy.konsbruck@afarak.com
Jean Paul Fabri, +356 2122 1566, jp.fabri@afarak.com
Financial reports and other investor information are available on the
Company's website: www.afarak.com.
Afarak Group is a specialist alloy producer focused on delivering
sustainable growth with a Speciality Alloys business in southern Europe
and a FerroAlloys business in South Africa. The Company is listed on
NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange
(AFRK).
Distribution:
NASDAQ Helsinki
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: Afarak Group via Globenewswire
http://www.afarakgroup.com
(END) Dow Jones Newswires
May 17, 2018 11:10 ET (15:10 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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