MFC Bancorp Ltd. Increases Its Commodities Trading Business.Business Editors NEW YORK--(BUSINESS WIRE)--July 31, 2003 MFC (Microsoft Foundation Class) An application framework for writing Microsoft C/C++ and Visual C++ applications. See application framework. MFC - Microsoft Foundation Class Bancorp Ltd. (Nasdaq:MXBIF) and (Frankfurt Stock Exchange Frankfurt Stock Exchange The largest of Germany's eight securities exchanges, operated by Deutsche Borse AS. :MFCGR), announced it has completed the acquisition of the alloys and pigments assets from Trident Alloys Ltd of Walsall, England through a newly formed company, Mazak Ltd. Mazak Ltd is 80 percent owned by MFC and the balance is held by its management personnel. Mazak will become the United Kingdom's largest producer of zinc-based alloys and pigments. Combined divisional annual turnover is budgeted at approximately GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 35 million from production of 40,000 tonnes of Alloy and Pigment pigment, substance that imparts color to other materials. In paint, the pigment is a powdered substance which, when mixed in the liquid vehicle, imparts color to a painted surface. products, with broad industrial applications. Customers range from component manufacturers and galvanizers to pharmaceutical and coatings producers. Sales distribution is divided between Europe, the Middle and Far East and Asia. Mazak also, indirectly, has leased industrial space from US Steel, for the assembly of a new zinc alloy refinery in Kosice, Slovakia. Much of the equipment to be incorporated into the plant is on hand and production from this facility is expected to begin by the end of September when completed. This plant is expected to have a capacity of 12,000 tpy and is budgeted to be producing at the rate of 5,000 tpy by the end of the year. Mazak Ltd has identified customers in advance for the expected production of the Slovakian plant. Commenting on the acquisition, Michael Smith Michael or Mike Smith may refer to: Journalists
About MFC Bancorp MFC Bancorp Ltd. owns companies that operate in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry, specializing in merchant banking internationally. To obtain further information on the company, visit its Web site at http://www.mfcbancorp.com. Certain statements included herein are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " as defined by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Management cautions that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause the actual results of operations or financial condition of the company to differ include, but are not necessarily limited to, the risks and uncertainties discussed in documents filed by the company with the Securities and Exchange Commission. |
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