Sydney, Oct 27, 2008 AEST (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.
Contact
Mr Peter Stuntz
Chairman
Tel: +61-2-8274-0900
Quay Magnesium Limited
www.quaymagnesium.com
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