RHI MAGNESITA N.V.

Merger of RHI Magnesita’s Indian subsidiaries

RHI Magnesita has announced the proposed merger of its three Indian subsidiaries RHI India, RHI Clasil into Orient Refractories. The merger is designed to optimally position RHI Magnesita’s operations in the strategically important Indian market to capture growth opportunities more effectively and efficiently.

Orient Refractories is listed on the Mumbai stock exchange. On completion, RHI Magnesita will own approximately 70 % in Orient Refractories which will be renamed RHI Magnesita India. The transaction is expected to be completed in the next 9 to 12 months.

Orient Refractories is a leading manufacturer and supplier of special refractory products, systems and services for the steel industry. RHI India, a wholly-owned RHI Magnesita subsidiary, is the Indian sales company of RHI Magnesita group offering a full range of refractories and related services sourced from various RHI Magnesita group entities to Indian customers. RHI Clasil, is 53.7 % owned by RHI Magnesita, is a manufacturer and supplier of mainly Alumina based refractories for steel and cement.

The proposed merger is expected to simplify the corporate structure and consolidate RHI Magnesita’s operating entities in India by creating a leading manufacturer and supplier of refractories with operating revenues of € 154 million (on a FY 2018 pro-forma basis), two production facilities and more than 700 employees.

www.rhimagnesita.com

Related articles:

3/2018 WORLD REFRACTORIES ASSOCIATION (WRA)

Stefan Borgas – new president of the World Refractories Association (WRA)

Stefan Borgas, CEO of RHI Magnesita, was elected new president of the World Refractories Association (WRA) and took office in the first days of January this year. He will assume the presidency...

more
01/2013

Holcim orders 9000 t/d cement plant at KHD

KHD Humboldt Wedag International AG subsidiaries, Humboldt Wedag India, Pvt. Ltd. and Humboldt Wedag GmbH (collectively “KHD”) received an order from the Holcim Group company ACC Limited, India, for...

more
12/2010

BulkSolids India 2011

The first BulkSolids India held in March 2010 was a great success. Participation of around 800 delegates confirmed the great importance of such a platform in India which is unique to the Indian...

more
7-8/2013

Shree Cement places huge order

Shree Cement Ltd. based in Kolkata/India awarded Gebr. Pfeiffer SE, Kaisers­lautern/Germany, and its ­Indian sub­sidiary, Gebr. Pfeiffer (India) Pvt. Ltd., Noida/India, a contract for a total of...

more
11/2011

FLSmidth to acquire Transweigh India Limited

FLSmidth has acquired 100 % of the shareholding in the Indian company Transweigh India Limited, a company in which FLSmidth has until now been a minority shareholder. Transweigh India Limited is a...

more