Caledonia’s marble interests grow

The merging of Renaissance Stone Masonry Co. with Hungarian state-owned Kofargo Marble Stone Masonry Co. gives the new company, known as Renaissance, a strong position with regards to the Hungarian marble industry, Caledonia Mining (TSE) reports.

Renaissance Stone was a subsidiary of Caledonia of Mississauga, Ont., and the merger will give the Caledonia group a 24% interest in the expanded Renaissance. This interest will increase to 31% in June, 1994, when Renaissance completes the purchase of its own shares (22%) currently owned by the Hungarian government.

Caledonia’s 75% owned subsidiary Centurion East European Mining acts as manager of the expanded Renaissance.