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[June 2008]
AMCOL International Announces Investment in Russian Bentonite Companies
AMCOL International Corporation (Arlington Heights, IL, USA) has acquired, via one of its subsidiaries, a 25% minority ownership position in the Bentonit Group of companies in Russia. Headquartered in Moscow, the Bentonit Group is the leader in the Russian bentonite market for iron ore pelletising, foundry and drilling clays. Its bentonite reserves are located in the Ural and Siberia regions of Russia as well as Azerbaijan with processing plants strategically located near major markets.
"Russia and the neighboring countries have been a targeted market for AMCOL for some time. This investment gives us a strong foothold in a geographically important area given the growing economies of the region," said Gary Castagna, the company’s President, Global Minerals.
"The Bentonit Group is the premier player in Russia. We are excited to partner with the existing management team who share our entrepreneurial spirit. We expect strong growth from this business and believe the partnership will benefit both parties through the synergies this investment creates," added Larry Washow, AMCOL President and CEO.
www.amcol.com
ENDS