Ukrainian-British Chiaturmarganets taken over by U.S. firm
Georgia, Tbilisi, Dec 27 /Trend N.Kirtzkhalia/
Ukrainian-British JSC Chiaturmarganets has become part of the American company Felman Production Inc. that produces ferroalloys.
Georgian media reports that the process of rebranding Chiaturmargantse has already begun.
A subsidiary of Felman Production Inc., namely Felman Trading Inc., is the exclusive distributor of Georgia manganese and also exports ferroalloys in Ukraine and Romania.
Chiaturmarganets with Ferro and Vartsikhe HES has been a part of Georgian manganese since 2005. Shareholders are Ukrainian Private Groups (70 per cent), and British Stemkord Limited (30 per cent) which are also the shareholders of Georgia manganese.
Ferroalloys are one of Georgia's top 10 exports and between January and November 2011 the country had exported these products to the sum of $230 million.