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IFGL Refractories terminated its joint venture with Marvels International Group, effective October 2026
14-Oct-2026, 05:29
IFGL Refractories Limited announced the termination of a Joint Venture Agreement dated October 14, 2024, with Marvels International Group Company Limited (Seychelles) and Marvel Refractories (Anshan) Company Limited (People’s Republic of China), held by a US citizen, Mr. Yi Chun Lu, which formed the joint venture entity IFGL-Marvels Refractories Limited; the termination, effective October 14, 2026, resulted in no contribution of shares from Marvels International Group Company Limited, leaving the Company with the entirety of the shareholding in the joint venture entity, and a Representation Agreement with Marvel Refractories (Anshan) Company Limited will terminate on November 9, 2026.