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VTB lends to Magnezit Group

22 April 2010

Within cooperation with metallurgical enterprises JSC VTB Bank has granted a one-year RUB 500 million loan to Magnezit Group. The funds will be channeled to finance the company’s main production activities.

JSC VTB Bank and Magnezit Group are looking forward to expanding relationship in credit, documentary and investment operations, and implementing corporate programs for the Group employees.

For reference:

Magnezit Group is the largest Russian refractory materials manufacturer with a complete production cycle: from extracting and mining of raw materials to rendering engineering and maintenance services.  The Group is among the world leading manufacturers in terms of raw materials extraction and exploration, as well as in production volume.

The Group comprises 15 production sites located in Russia, Germany, China and Slovakia.

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