NEW YORK () -- Metallurg Inc. has acquired a minority stake in Solikamsk, the Russian magnesium and rare metals producer, the New York-based company said in a statement.


Privately owned Metallurg, which entered Chapter 11 protection in September 1993, declined to say how many shares it bought and for what amount.


Solikamsk makes tantalum and niobium (columbium) oxides and rare earth compounds, as well as being a major producer of magnesium. A separate Western company, Minmet Financing Co. of Switzerland, bought a 15 percent stake in Solikamsk earlier this year.