APA ots news: RHI Magnesita acquires Indian refractory business Dalmia…

APA ots news: RHI Magnesita acquires Indian refractory business Dalmia Bharat Refractories Limited

Acquisition strengthens RHI Magnesita’s presence and offering in

important growth market

Vienna (APA-ots) – RHI Magnesita, the world’s leading supplier of

Refractory products, today gives the acquisition of Indian

refractories company Dalmia Bharat Refractories Limited (“DBRL”)

known. DBRL is one of the leading refractories suppliers in India and

a reliable partner for customers in the region for a long time.

Through the acquisition, RHI Magnesita’s presence is expanding rapidly

expanding the growing Indian refractories market. 2022 should

Steel production in India will increase by 12% by 2030

average growth rate (CAGR) of 7-8% forecast. Through

the merging of the production of DBRL with RHI Magnesitas

existing business activities will generate significant synergies

created. The company employs around 1,200 in India

employees and has five refractory and raw material locations

with a production capacity of more than 300,000 tons per year.

As part of the acquisition, RHI Magnesita is acquiring additional

Production capacities in important industrial regions in the south and

Western India, where the company currently has no locations.

Stefan Borgas, CEO RHI Magnesita: “I am very pleased

to announce this acquisition. It means great added value

for our company as it is our expansion on the fast

growing Indian refractories market. That

is another essential step in the implementation of our

corporate strategy. We anticipate significant financial and

operational benefits from the addition of Dalmia Bharat Refractories

in our existing network. As a result, we are able to

increasingly on a local-for-local basis in India

serve and offer a wider range of products, especially in the

Industrial area, in which RHI Magnesita is currently not very present

is. This transaction proves that we are in declining times

Demand in other regions of our business in India, where the

Prospects for the refractory industry are good, continue to expand

be able.”

Parmod Sagar, CEO & Managing Director RHI Magnesita India,

explains: “As a proven and reliable business partner

underpins the integration of Dalmia Bharat Refractories into ours

Network our position as a leading player on Indian

refractory market. This transaction is a commitment by management

further strengthen the Group’s operations in India and

to further expand our presence in the region.”

Sameer Nagpal, Managing Director & CEO of DBRL, on the transaction:

“In recent years we have been able to do business on the basis of a

expand our broad product range and service competence and position ourselves as

establish a reliable supplier in the region. For the next

However, during the growth phase it is essential to have access to technologies

have, such as RHI Magnesita as a global market leader. we

believe that our company will best serve customers in India

by becoming part of the RHI Magnesita network.”

The acquisition is based on a share swap (“Share

Swap Agreement”) in exchange for 27 million shares in RHI

Magnesita India Limited.

Subtitle: About RHI Magnesita

RHI Magnesita is the world market leader in high-quality

Refractory products, systems and services for

industrial high-temperature processes over 1,200 °C in a large number

of industries including steel, cement, non-ferrous metals and glass,

are indispensable. Through the vertically integrated

Value chain, from the raw material to the refractory product and

performance-oriented complete solutions, RHI Magnesita serves

Customers in almost every country worldwide. The company employs

around 12,000 employees at 28 main production sites and more than

70 sales locations. RHI Magnesita is striving to expand the

Leadership position in terms of revenue, size, product portfolio as well

geographic presence – particularly in those regions that

promise economic growth prospects.

The company’s stock is listed with a premium listing

the London Stock Exchange (symbol: RHIM) and is part of the FTSE 250 Index,

with a secondary listing on the Vienna Stock Exchange. Further information

can be found at: [www.rhimagnesita.com]

(http://www.rhimagnesita.com/)

Subtitle: Via RHI Magnesita India Limited

RHI Magnesita India Limited is located in India and West Asia region

a leading supplier of high-quality refractory products and systems

and services required for high-temperature industrial processes

over 1,200°C in a variety of industries including steel,

Cement, non-ferrous metals and glass are indispensable. RHI Magnesita

India Limited is listed on the Bombay Stock Exchange (ID:

534076) and on the National Stock Exchange of India (symbol: RHIM

NS) with the ISIN INE743M01012. For more information see

under: [www.rhimagnesitaindia.com]

(http://www.rhimagnesitaindia.com/)

Sub: Via Dalmia Bharat Refractories Limited

Established in 1954, Dalmia Bharat Refractories Limited (formerly

Shri Nataraj Ceramics and Chemical Industries Ltd.) a leading

Indian manufacturer of high alumina refractories for the

Cement Industry in India. In addition to a comprehensive range of

Services such as refractory conception and design for

Greenfield projects, refractory applications and maintenance

DBRL customers in more than 40 countries end-to-end refractories,

solutions and services and is one of the oldest and

leading refractory suppliers for cement plants in India and in

Middle East and North Africa.

Query note:

Patrizia Pappacena

Head of Global Corporate Communications & Public Affairs

[email protected]

+43 699 1870 6443

Digital press kit: http://www.ots.at/pressemappe/1644/aom

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