Germany's Quarzwerke acquires controlling stake in Jugo-Kaolin

Germany's Quarzwerke has finished the process of acquiring a controlling stake of 87 percent in the Kaolin AD company, thus becoming the owner of its subsidiary in Serbia - Jugo-Kaolin.

Jugo-Kaolin, which employs about 300 people, operates five mines of the Kopovi UB company (four open-pit quartz sand mines and one ceramic clay mine) as well as quartz sand mines Belorecki Pescar near Bor and Srbokvarc near Zajecar.

Jugo-Kaolin CEO Nebojsa Ilincic said that Quarzwerke was making a strategic investment in the Balkans.

- The aim of the company is to develop operations in Serbia, and I am convinced that we will together achieve top results, thus contributing not only to the progress of our, but also to the progress of the entire country - said Ilincic.

He reminded that the reserves and quality of quartz sand in Serbia were on a very high level, adding that they represented a chance for the country to become an European leader in glass production as well as a significant exporter of raw materials.

Quarzwerke is a company with 129 years of experience in the exploitation, processing and treatment of industrial minerals.