Are you sure?

Mal to buy Balkans mines

Magyar Aluminum Zrt (Mal), Hungary's second-largest aluminum producer, plans to buy bauxite mines in the Balkans, business daily Napi Gazdaság reported.

The company is considering acquisitions in Bosnia and Montenegro, Mal Chairman Lajos Tolnay told the paper. Mal acquired Bosnian bauxite mine operator Rudnici Boksita Jajce in 2004 and imported 142,000 tons of bauxite from the unit last year, Tolnay said. The company posted a pretax loss of Ft 2.36 billion on sales of Ft 45.3 billion last year and expects Ft 380 million in pretax profit this year, Tolnay said.