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Magnesita Says Plane Carrying Financial Chief Missing (Update1)

By Flavia Bohone and Matthew Walter

July 13 (Bloomberg) -- Magnesita Refratorios SA, an industrial-minerals producer, said a plane carrying its financial chief went missing two days ago.

The plane carrying Chief Financial Officer Mauricio Lustosa de Castro last made contact over Venezuela at around 6 p.m. Brasilia time on July 11, Magnesita said today in an e-mailed statement.

The pilot checked in with air-traffic controllers in Venezuela’s Bolivar state, which borders Brazil, before the aircraft later sent out a distress signal, said Enrique Martin, a member of Venezuela’s Search and Rescue Association, which is participating in a search for the plane.

Venezuelan planes patrolled the area looking for the plane yesterday and earlier today before temporarily suspending the search because of bad weather, Martin said in a telephone interview.

To contact the reporter on this story: Flavia Bohone in Sao Paulo at fbohone@bloomberg.netMatthew Walter in Caracas at mwalter4@bloomberg.net

Last Updated: July 13, 2009 19:20 EDT

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