Bulgaria's Kaolin buys Serbia's Belorecki Pescar for 1 mln

Dec. 10, 2010 - Bulgarian mineral extracting and processing company Kaolin said on December 9 2010 that it had acquired Serbian quartz sand quarry Belorecki Pescar through its local unit Jugo-Kaolin for a million euro.
Kaolin has made commitments to invest a further 850,000 euro in the quarry within the next five years.
Belorecki Pescar, in Serbia's eastern town of Bor, is part of ailing copper smelting and mining complex RTB.
The acquisition, Kaolin's fifth deal in Serbia, is part of the company's strategy to expand into South Eastern Europe.
Earlier in 2010, Kaolin unveiled a 15 million euro silica sand enrichment plant in Ukraine, the largest investment by a Bulgarian firm in the country. The firm projects to recoup its investment within 12 years.