On 11.05.2012, RHI’s CEO Franz Struzl signed a non-binding MOU together with representatives of the Republic of Serbia and the City of Kraljevo. In this Memorandum of Understanding (MOU), RHI expresses its interest in pursuing an acquisition of the assets of Magnohrom d.o.o. These assets include magnesite mines and will require production capacities that need approx. 400 persons for their operations. RHI expects the sale process to be initiated by the Serbian government by mid-year and is considering investing up to 60 million € for this project within the next five years. This project is part of the strategic drive of RHI to increase its backward integration in raw materials.