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Kaolin AD has acquired controlling interest in PKSP – leading producer of silica sands in Ukraine
On June 13, 2007 in Kiev, Kaolin AD signed a contract for the acquisition of 51% of the shares of the Ukrainian company PKSP ООО. The remaining 49 % of the shares in PKSP remain the property of the founders and hitherto owners of the Ukrainian company - Oleg Zhukovsky and Yurii Galagan. The transaction was approved by the Ukrainian anti-monopol commission on May 15, 2007.
PKSP exploits two deposits of silica sand having extremely high purity to the north of Kiev. PKSP is the second largest producer of silica sands in the Ukraine and it mainly supplies the glass and construction industry in this country. The company exports part of its production in neighbouring countries - Moldavia, Russia, etc. For the financial 2006, the turnover of PKSP was nearly EUR 3 mln., where the profit before tax exceeded EUR 450 thousand.
Kaolin AD acquired the controlling interest in PKSP - leading producer of silica sands in the Ukraine. Following the acquisition of the controlling package of the shares of PKSP, increase in the company’s capital is to be performed, where the funds raised are to be used for financing the construction of a processing plant for silica sand dressing. The purpose of the investment is to introduce new products having enhanced added value in the production cycle and considerable increase of Kaolin’s subsidiaries’ market share in the Ukraine.
PKSP exploits two deposits of silica sand having extremely high purity to the north of Kiev. PKSP is the second largest producer of silica sands in the Ukraine and it mainly supplies the glass and construction industry in this country. The company exports part of its production in neighbouring countries - Moldavia, Russia, etc. For the financial 2006, the turnover of PKSP was nearly EUR 3 mln., where the profit before tax exceeded EUR 450 thousand.
Kaolin AD acquired the controlling interest in PKSP - leading producer of silica sands in the Ukraine. Following the acquisition of the controlling package of the shares of PKSP, increase in the company’s capital is to be performed, where the funds raised are to be used for financing the construction of a processing plant for silica sand dressing. The purpose of the investment is to introduce new products having enhanced added value in the production cycle and considerable increase of Kaolin’s subsidiaries’ market share in the Ukraine.