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Magnesita Refratarios SA to Acquire Reframec Manutencoes e Montagens de Refratarios Ltda

Monday, 29 Apr 2013 08:24am EDT 

Magnesita Refratarios SA announced that on April 29, 2013 it signed a definitive agreement for the acquisition of Reframec Manutencoes e Montagens de Refratarios Ltda (Reframec) for the price of approximately BRL 12 million. The Company will acquire a 51% stake in Reframec. The remaining 49% will be acquired in annual installments within the next four years. Reframec is active in installation and repair services in refractory used in the production of cement. The transaction is estimated to be completed by the end of the second quarter of 2013. 

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