Sydney, Oct 27, 2008 (ABN Newswire) - Quay Magnesium Limited (ASX:QMG)(PINK:QYMGF) has formed a European sales and marketing company, Quay Magnesium GmbH.
The largest global market for magnesium alloys is the European Community (EU), with the greatest concentration of users in Germany. To continue to service and grow this substantial market, Quay will have sales and technical support for our customers based in Germany to service all EU countries as well as Norway and Switzerland.
A joint venture company has been formed (Quay 51%) with Aage GmbH a company owned by Professor Dr Dr Friedrich Klein. Professor Klein is an experienced and well known identity in the European magnesium casting industry. He currently leads the European Magnesium Research Organisation, EFM. Quay is pleased to partner with Professor Klein to establish this new entity and continue to grow Quay's European customer base.
The registration of chemicals imported into the EU is governed by a protocol known as REACH. Under this protocol importers and users of chemicals must meet certain compliance and registration standards. In Quay Magnesium's case, this includes its magnesium alloy product.
This requires Quay to have an entity in Europe and the establishment of this new company will ensure Quay continues as a reliable, registered supplier to EU customers.
About Quay Magnesium Limited
Quay Magnesium Limited (ASX: QMG) is an Australian owned publicly listed company with its alloying production plant in Nanjing, China. Our company produces a range of high performance magnesium alloys that are targeted for use in the automotive and electronics industries where light-weight applications are a growing world wide trend.
Through advanced production techniques, strict product quality control and close collaboration with customers, Quay's superior refining technology and highly experienced team ensure the production of high quality alloys.
Contact
Mr Peter Stuntz Chairman Tel: +61-2-8274-0900 Quay Magnesium Limited www.quaymagnesium.com
