Sat, May 26 2012

Bulgaria's Kaolin buys Serbia's Belorecki Pescar for a million euro

Fri, Dec 10 2010 00:42 CET

byDnevnik.bg

1378 Views
Bulgaria's Kaolin buys Serbia's Belorecki Pescar for a million euro

Photo: Reuters

Bulgarian mineral extracting and processing company Kaolin said on December 9 2010 that it had acquired Serbian quartz sand quarry Belorecki Pescar through its local unit Jugo-Kaolin for a million euro.

Kaolin has made commitments to invest a further 850 000 euro in the quarry within the next five years.

Belorecki Pescar, in Serbia's eastern town of Bor, is part of ailing copper smelting and mining complex RTB.

The acquisition, Kaolin's fifth deal in Serbia, is part of the company's strategy to expand into South Eastern Europe.

Earlier in 2010, Kaolin unveiled a 15 million euro silica sand enrichment plant in Ukraine, the largest investment by a Bulgarian firm in the country. The firm projects to recoup its investment within 12 years.

Source: Dnevnik.bg

  • Print
  • Send via email
  • Translate to
  • Share:

To post comments, please, Login or Register.


Please read the The Sofia Echo forum comments policy.

Investors dump Bulgarian stock market

Stocks sink to new bottom amid listless trading

Fear factor

The full impact of the global financial crisis may not yet have taken hold on Bulgaria, but already the country has seen a number of job losses and announcements that some firms are rethinking investments. Machine builders and electronics makers are feeling the full brunt of the crisis with car battery maker Monbat and starter and torque batteries maker Elhim Iskra planning to eliminate further jobs amid darkening sales outlooks, Dnevnik reported on December 12.

Bulgarian mining firm Kaolin H1 consolidated income up 17%

Bulgarian company Kaolin, one of the biggest mining firms in southeast Europe, posted a 17 per cent increase in first-halfconsolidated revenue, data filed to the Bulgarian Stock Exchange showed. Sales rose by 21 per cent to 66.7 million leva over the review period. The company has forecast a 2008 sales increase of at least 20 per cent. Earnings posted a real decline of 43 per cent to 6.2 million leva in the

More in this category

Czech Republic, Romania mull shale gas moratoriums

Governments in Prague and Bucharest could soon join Sofia in instituting temporary moratoriums on shale gas exploration.

Serbia: Tadić leads as presidential elections head for second round

Coalition around ruling Democratic Party has largest share of vote in Serbia's parliamentary election, according to exit polls.

Greek voters punish major centre-right, socialist parties at polls

Centre-right New Democracy is said by exit polls to have largest share of votes, but diminished even from its 2009 defeat, while socialists Pasok – the 2009 victors – gets somewhere around 14 to 17 per cent.

Deal on OSCE role in Serbian elections welcomed

An agreement reached with the Organisation for Security and Cooperation in Europe (OSCE) will allow voters with dual citizenship in Kosovo to vote in the upcoming parliamentary and presidential elections in Serbia.

Macedonia arrests 20 suspected terrorists

Twenty radical Muslims suspected of being members of a terrorist group that has been linked to the murder of five fishermen in early April.

© 2000-2012, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.