Amcol acquires stake in Bentonit Group
June 7, 2008
June 7th (CNN Money) – Specialty minerals company Amcol International Corp. said Friday it acquired a 25 percent minority stake in Russia’s Bentonit Group of companies.
Financial terms were not disclosed. Moscow-based Bentonit focuses on the Russian bentonite market for iron ore pelletizing, foundry and drilling clays. Its reserves are located in the Ural and Siberia regions of Russia, along with as Azerbaijan.
Amcol said the investment gives it a foothold in a geographically important area with growing economies. Amcol shares fell 12 cents to close at $31.60.