S&B Industrial Minerals S.A. (“S&B”) announces that it reached an agreement to acquire a 50% stake in Chaoyang GoldCommon Mining Co. Ltd. (GC), through its 100% subsidiary Sibimin. The seller of the stake is Beijing Dongxinlian GoldCommon Investment Management Co., Ltd.  who will retain the other 50% stake. The purchase price for the 50% of GC's share capital amounts to CNY 37.1 million (approx. €4.4 million) and will be financed through existing facilities. Finalization of the deal is subject to regulatory approvals and confirmatory due diligence.

GC is a subsidiary of the Goldcommon Group which has various investment interests in real estate, construction and mining. GC has access to high quality bentonite reserves for supplying the metallurgy and foundry segments and is based in Liaoning province where it operates production facilities with annual capacity in excess of 150,000 tons.  

Kriton Anavlavis, CEO of S&B, said: “This transaction represents an extension of our market to mine business model in the fast growing and significant Asia/Pacific region. It is consistent with our strategy of creating value, by enhancing our product portfolio with local bentonite reserves and providing access to the foundry and metallurgy segments in an important region, where we had previously lacked an established presence. I am confident that our global skill set in industrial marketing for foundry and iron-ore pelletizing applications will enable S&B to effectively enter in these rapidly developing markets. Through further extension of our significant geographic footprint we remain focused on our long term objective of delivering sustainable value growth and returns for our shareholders.”

Investor Relations

24 January 2013

S&B Industrial Minerals is a global diversified minerals and materials group, providing industrial solutions based on natural resources. With annual sales of more than €450 million, it serves a wide range of industrial applications in the global markets of metallurgy, foundry, construction and in various specialty niche sectors. Committed to Sustainable Development, S&B utilizes the multiple properties of industrial minerals to transform its mineral portfolio into customized industrial solutions that enhance the production processes of its customers and increase end-product performance. Through a well-balanced international presence and with leading positions in its markets, S&B operates in 21 countries, effecting sales in over 70 countries. S&B's shares are listed on the Athens Exchange since 1994 (ATHEX: ARBA). For more information, please visit www.sandb.com