RHI Magnesita, the world’s leading supplier of refractory products, systems and solutions, announces the acquisition of Seven Refractories’ business activities in Europe, India and the USA. Seven Refractories is a specialty supplier of non-basic monolithic refractory mixes with broad applications in RHI Magnesita’s customer segments, including iron, steel, cement, aluminum or non-ferrous metals.
With the development of new production technologies with low CO2 emissions, non-basic refractories are expected to gain increasing importance in RHI Magnesita’s main customer industries. Seven Refractories’ product portfolio ranges from low-temperature chamottes to ultra-high-temperature zircon mixes, high-grade alumina mixes and sustainable tapping mixes with low CO2 emissions.
Seven Refractories employs around 240 people at production sites in Slovenia, India and the USA, as well as at sales and service locations in Cyprus, Germany, Italy and the UK.
More sustainable products with a lower carbon footprint
Through the acquisition, RHI Magnesita will be able to offer a broader range of non-basic refractory mixes, which are an essential addition to the company’s existing product portfolio. Synergies are expected to be created through cross-selling opportunities, logistical improvements, increased use of recycled materials, efficiencies in purchasing, and low capital intensity brownfield expansion projects. The management of Seven Refractories, including Chief Executive Officer Erik Zobec, will transition to the RHI Magnesita Group upon completion of the acquisition to drive business development focused on non-basic mixes.
“With this transaction, RHI Magnesita takes an important step in the non-basic mix sector: we can further expand our existing presence in this market and round out the overall offering for our customers. We see excellent opportunities to create synergies by integrating Seven Refractories into our existing network and together we pursue the clear intention to offer our customers more sustainable products with a lower carbon footprint,” explains Stefan Borgas, CEO RHI Magnesita.