AFRK Afarak Group Se

 
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)

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