RHI Magnesita has completed its acquisition of Seven Refractories, a specialist supplier of alumina refractory mixes, serving customers in the iron and steel, cement, and non-ferrous metals industries.
With the acquisition, RHI will add around 240 employees at three production sites in Slovenia, India and the USA, and at sales offices and service centres in Germany, Italy, the United Kingdom and Cyprus. Seven Refractories recorded revenue of €105 million ($116m) and profit before tax of €11m in 2022.
The acquisition will complement RHI Magnesita’s existing non-basic refractories portfolio, Kallanish hears from the Austria-based company. It will also open new opportunities in the development of low-CO2-emitting manufacturing technologies within RHI’s key customer industries, the firm emphasises.
Christian Koehl Germany