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Magnesit Anonim Sirketi, a Turkish subsidiary of RHI AG, recently announced it has signed a contract with the Cihan Group for the acquisition of a raw material plant and mining rights in Erzurum, Turkey, for $30 million. In addition, a debtor warrant of up to $16 million was agreed upon, which depends on the raw material quantities and qualities.
The entire transaction is subject to the approval of the competent civil court and administrative authorities, both in Turkey, as well as to meeting further contractual conditions.
For more information, visit www.rhi-ag.com.