Effort Management Group has announced its intention to take over the proppant market in Russia. This decision was declared by the Chief Financial Officer of the Group Marc Van den Meersche on 1 June, 2016 during the conference held in Paris dedicated to the expansion and development of the proppant market in Russia. In 2015, the Group, through the companies in Russia that it manages, built a modern plant in Asbest (Ekaterinburg region, Russia) to process the serpentinite (ore) that would be used to manufacture ‘light ceramic proppant’ and aggregate.
The properties of serpentinite from Asbest will have an important impact on the Russian proppant market. The serpentinite from Asbest quarry, more than half a billion t (above 1 trillion lb), will be used to manufacture ‘light ceramic proppant’ at a low cost and will be sold at a low price, by approximately 500 000 t per year (1 billion lb). Asbest light ceramic proppant is going to flood the Russian proppant market by the end of 2016. Therefore, most of the current Russian proppant manufacturers are trying to establish a partnership with Effort Management Group in order to retain their positions on the market.
"Today the proppant market in Russia is represented by a small number of companies. It has a great potential, provided that the proppant manufacturers use the serpentinite (ore) from Asbest. Our Group has all the necessary financial resources, raw materials and facilities in order to become the undisputed leader of the Russian proppant market", - said Marc Van den Meersche, the CFO of Effort Management Group.
Effort Management Group was founded in 2012 in Paris. The Group has a large influence on the Russian markets, especially in mining industry, and oversees industrial and commercial enterprises. It manages several quarries and plants in Russia.
Adapted from a press release by Louise Mulhall
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