Magontec Limited Reports Earnings Results for the Full Year Ended December 31, 2023

Magontec Limited is an Australia-based company, which is engaged in manufacturing of magnesium products. The principal activities of the Company include manufacture and sale of generic and specialist alloys (including both primary alloy manufacture and recycling), manufacture and distribution of magnesium and titanium cathodic corrosion protection products (anodes) and research and development of new magnesium alloys and technologies. It is also focused on research and development of cathodic corrosion protection products and creating markets for new magnesium alloys and technologies by supporting demonstration trials and programs for developing new applications. Its types of products and services include magnesium alloy production and recycling, and manufacture of cathodic corrosion protection products. It manufactures magnesium alloys from its production facilities in Shanxi and Qinghai Provinces in China. It recycles magnesium alloys servicing its primary magnesium alloy customers.