Magnesita 2014 results triumph over flat steel production

By Josie Shillito
Published: Tuesday, 17 March 2015

Magnesita overcame headwinds in the steel market to deliver robust 2014 earnings, half of which came from new growth markets. The company is looking to the stainless steel and mini mills end market in North America for its 2015 growth.

Brazil's Magnesita Refratarios grew its net revenue to Brazilian real (R$) 2.87bn ($877.5m*) last year, thanks to sales of its refractory solutions products to the steel industry.

The expansion in the services segment of the business and the positive impact of the Brazilian real devaluation against the US...

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