Bulgarian Company Kaolin Buys Albanian MID

SOFIA, Dec. 22 – The Bulgarian mineral extracting and processing company, Kaolin, has bought all the shares of Albanian peer company M.I.D. AL for an undisclosed sum.
“The investment in Albania is the latest in a series of steps in the implementation of Kaolin’s strategy to expand its market presence in the dynamically developing markets in the region of southeast Europe,” Kaolin said in a statement.
M.I.D. AL operates a quarry near Tirana. It produces industrial minerals and is one of Albania’s leading limestone producers, Kaolin said.
Kaolin, which is 67.85 percent-owned by the industrial and financial group Alfa Finance Holding, is the sole producer of kaolin and silica sands in Bulgaria. It operates 12 mineral deposits and eight processing factories in Bulgaria, and five mines and two factories in Bulgaria’s western neighbor, Serbia. The company has a subsidiary in neighboring Romania and Ukraine. Earlier this month, the company said it would enter the solar energy business through its majority-owned subsidiary, Solarpro.