Magnesita said it closed two major strategic partnerships with other producers of refractories in Latin America, with one Colombian and one with sudamina Refractories Socialist Venezuela.

In Colombia, the contract provides for the transfer between the two companies and the supply of raw materials for production. As Magnesita, sudamina act in the processing and production of monolithic refractories for Magnesita in Colombia and fuel the Colombian market and nearby countries from Cartagena (free trade zone).

In Venezuela, the contract involves the transfer of technology and raw materials from Brazil, in return for market-opening products of Magnesita for major industries in Venezuela. The agreement covers 16 industries from aluminum production to agricultural fertilizer.

Mr Ronaldo Iabrudi CEO of Magnesita, stressed that the improvement of the product in Colombia will bring the company more competitive costs and improved quality.

Mr Magnesita said that "All these industries will be supplied by Magnesita, the product lines that RSV does not produce explaining that Venezuela imported their traditionally refractory European producers, and Brazil had minimal participation in this country's imports."

Magnesita reports that his presence in the steel market of Venezuela and other Latin American countries such as Paraguay, Colombia and Ecuador, close to 70%. In Argentina, the company's participation is 50%.