Deutsche Appointed as Depositary Bank for one program of Magnesita Refratarios

Aug. 13, 2010 - Deutsche Bank today announced its appointment as depositary bank for the sponsored Level I American Depositary Receipt (ADR) program of Magnesita Refratarios S.A.
Magnesita Refratarios S.A. is a vertically integrated refractory producer supplying steel and cement. It also exports raw materials and refractories to a wide range of countries. Magnesita is one of the leading operators in refractory products in South America, and has costumers in North America, Europe and Asia. Magnesita operates industrial facilities in Brazil, Argentina, the United States, France, Belgium, Germany, Taiwan and China, which have an aggregate production capacity in excess of 1,430 thousand tons per year.
Akbar Poonawala, Head of Global Equity Services (GES) at Deutsche Bank said, "We are delighted to be acting as depositary bank on this ADR transaction and we very much look forward to working with Magnesita and ensuring that their ADR investors receive the highest level of service".