TEC Maritza Iztok Selects Kaolin AD to Do Limestone Delivery

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On June 6, 2007 the Board of Directors of TEC Maritza Iztok 2 informed Kaolin AD that the company has been selected to carry out the order for the delivery of 1 mln tonnes of limestone, BSE reported.

The order is for limestone delivery during the period 2007-2011 for the sulphur installations of block 7 and 8 of TEC Maritza Iztok 2 EAD.

It is expected that the contract will be signed soon.

Kaolin is the biggest producer of industrial materials in Southeast Europe. Its main activity is the extraction and processing of kaolin, quartz sands, clay, limestone, ceramic powder and others.

In an IPO held in the end of April Kaolin raised 61.838 mln leva. After bookbuilding the issue value of orders was set at 13.50 leva. A total of 4.58 mln shares were subscribed and paid.

Kaolin's profit increased by nearly 350% in 1Q to 5.52 mln leva compared with 1.23 mln leva a year ago.

So far today 6,340 shares of the company have changed hands at an average of 13.83 leva or 0.43% down than the previous session.

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