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
+43 699 1870 6443
Digital press kit: http://www.ots.at/pressemappe/1644/aom
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OTS0025 2022-11-20/11:03