Magnesita reports losses for 2008

Published: Friday, 03 April 2009

Brazilian magnesite & refractories producer increases revenue but has overall net loss

Leading Brazilian magnesite and refractory producer, Magnesita SA, reported a net loss of R$136.2m. ($61m.) in Q4 2008 – due to a contraction in sales brought on by the global financial crisis – compared to a net income of R$18.7m. (US$8.4m.) in Q4 2007.

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