25 November 2003 08:46
REFRACTORY MAKER TO FLOAT SHARES ON INTERNATIONAL MARKET BY 2008
MOSCOW. Nov 25 (Interfax) - Magnezit, Russia's biggest refractory producer, plans to float shares on the
international market by 2008, the company said in a press release.
Quotes for the company's shares on the London and other international exchanges will significantly increase
investment appeal and competitiveness on the domestic and foreign markets.
The company's development program to 2008 aims to maintain a leading position on the Russian and CIS refractory
market with a share of at least 40%, and ensure an annual profit margin that is above the average for the industry in
2003-2008.
Magnezit also plans to win important positions on the markets of China and Eastern Europe, increasing its share of
exports to at least 5% of overall sales, and transforming to a public company through initial public offerings first on
the Russian and then on foreign stock markets.
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