GRECIAN MAGNESITE MINING INDUSTRIAL, SHIPPING AND COMMERCIAL SA

GRECIAN MAGNESITE is a privately owned company established in 1959 as a mining and industrial concern. However the magnesite mining expertise of the owners (Portolos family) goes back to 1914. GRECIAN MAGNESITE is a magnesite specialist. The company produces and commercialises caustic magnesia, deadburned magnesia, raw magnesite and basic monolithic refractories. Grecian MAGNESITE&＃39;s annual production capacity for caustic and deadburned magnesia is close to 200. 000 mt and 60. 000 mt for basic monolithic refractories. The company&＃39;s major deposits along with its works are located in Chalkidiki, Northern Greece, whereas the company&＃39;s assets also include deposits on the island of Euboea, a modern R& D facility near Thessaloniki and the head office in Athens. Grecian MAGNESITE participates in Magnesitas Navarras S. A. of Spain (39. 9% ) , which produces and sells refractory masses, calcined magnesia and deadburned magnesia; Grecian Magnesite also has a subsidiary, AKDENIZ Mineral Kaynaklari A. S. of Turkey, which produces raw magnesite and also trades in other mineral markets. Finally, GRECIAN MAGNESITE participates in the US Company PREMIER CHEMICALS LLC with 15% . Premier Chemicals, is the nations leading producer of caustic magnesia chemicals for industrial, environmental and agricultural applications. Grecian Magnesite is the second biggest investor, and an "industrial partner" in this business. Last but not least Grecian Magnesite owns 50% of the Dutch based trading house Van Mannekus & Co B. V.