The Russian group "Magnesite" supervising bank "Panteleymonovsky Refractory Works" (Donetsk region)., Announced the completion of the first part of the investment to increase production volumes in the enterprise.
As noted in the press release, "Magnezit", the company carried out a set of works on the preparation of the project site. Namely implemented dismantling grinding thread number 1, the press and the drying unit. Currently, the expected supply and installation of two mixers, briquetting presses and conveyor driers. At the same time, work is underway in a project to increase the production of refractory products. It is planned that the new production facility will be operational by mid-2013. By 2016, the plant intends to increase the volume of production of magnesia refractories up to 25 thousand tons per year and organize the production fluxes up to 100 thousand tons per year.
Modernization Strategy Panteleimonovsky OZ was developed in early 2012. It is aimed at diversifying the product range and production of modern and popular products of higher added value. "The total volume of investment in the project will be $ 8,000,000," — stated in a press release.
On the acquisition of JSC "Panteleymonovsky Refractory Plant" Russian group "Magnesite" reported in early February of this year. The authorized capital of the company amounts to 8,460 million USD, par value shares — 10 UAH.
Panteleimon KS in 2010 earned a net profit of 55.927 million USD., While in 2009 it amounted to 37.563 mln. The company increased its total production of refractory products by 45.4% — to 51.6 thousand tons.