Home » News » Parent company of Basalt America raises new millions in investments
Parent company of Basalt America raises new millions in investments

Parent company of Basalt America raises new millions in investments

P ayMeOn, the sole shareholder of Basalt America, is supposed to raise 1 million at least from a group of investors.

The decision was taken by the founders of a new joint venture established to promote and manage the sales of Basalt America’s basalt fiber products in the New England region of the United States.

The terms of investment are expected to be commensurate with other recent investments in the company. Top managers of PayMeOn believe that this agreement illustrates the belief in their company’s technological and commercial potential. As for a joint venture in the New England, Basalt America and the investor group will each share 50% of this new company.

According to Edward A. Cespedes, Chairman and CEO of Basalt America, this partnership will play a key role in the development plan for Basalt America. Experience in construction offered by the businessmen from the New England in combination with their own business experience will enable them to start the successful sales process in one of the most valuable areas of the country.

Last year PayMeOn took over Rockstar, a basalt rebar manufacturer, and renamed it Basalt America. The company products are used for construction and rehabilitation of infrastructure facilities all over the USA. Basalt America’s engineering solutions based on basalt rebar were given prestigious awards.

About Olga Yurchenko

Olga Yurchenko
x

Check Also

Basalt coating to enhance service life of mine fans

Basalt coating to enhance service life of mine fans

Corum Group has applied anticorrosive wear-resistant basalt coating for powerful fans of the main ventilation unit operating at the iron ore mine.