REG - RHI Magnesita N.V. - Acquisition of Dalmia GSB Refractories GmbH

RHI Magnesita NVAnnouncement

29/03/2023 07:00

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RNS Number : 5375U  RHI Magnesita N.V.  29 March 2023

29 March 2023

 

RHI Magnesita N.V.

("RHI Magnesita" or "the Group")

 

Acquisition of Dalmia GSB Refractories GmbH

 

RHI Magnesita announces the acquisition of Dalmia GSB Refractories GmbH
("DGSB") for a cash consideration of approximately €13 million ("the
Acquisition").

DGSB is a leading supplier of monolithic lances and other precast products to
European steel customers for use in the desulphurisation and homogenisation of
molten steel, based in Bochum, Germany. DGSB is currently a subsidiary of the
Dalmia Bharat Group.

DGSB recorded profit before tax of €1.7 million in the year to 31 March 2022
and had Gross Assets of €18.2 million at 31 March 2022. Net debt of
approximately €10 million will be consolidated by the Group following
completion of the Acquisition, which is expected to occur in the first half of
2023.

The Acquisition will enable RHI Magnesita to widen its customer offering in
Europe, where monolithic lances are a complementary addition to the Group's
existing product range. Attractive potential synergies are expected to be
realised through the inclusion of the additional products within the Group's
heat management solutions offering and from cross-selling, procurement and
logistics benefits.

 

Commenting on the Acquisition, Stefan Borgas, Chief Executive Officer of RHI
Magnesita, said: "I am pleased to report continued momentum in the execution
of our M&A strategy through this acquisition from the Dalmia Bharat Group
in Europe. Steel flow control is a market we have targeted for growth and this
acquisition will bring additional benefits to our customers as we broaden the
technologies and solutions we can offer to them."

 

For further enquiries, please contact:

Chris Bucknall, Head of Investor Relations

Tel +43 699 1870 6490

E‐mail: chris.bucknall@rhimagnesita.com

 

 

About RHI Magnesita

RHI Magnesita is the leading global supplier of high-grade refractory
products, systems and solutions which are critical for high-temperature
processes exceeding 1,200°C in a wide range of industries, including steel,
cement, non-ferrous metals and glass. With a vertically integrated value
chain, from raw materials to refractory products and full performance-based
solutions, RHI Magnesita serves customers around the world, with around 13,500
employees in 33 main production sites and more than 70 sales offices. RHI
Magnesita intends to leverage its leadership in terms of revenue, scale,
product portfolio and diversified geographic presence to target strategically
those countries and regions benefitting from more dynamic economic growth
prospects.

The Group maintains a premium listing on the Official list of the London Stock
Exchange (symbol: RHIM) and is a constituent of the FTSE 250 index, with a
secondary listing on the prime segment of the Vienna Stock Exchange (Wiener
Börse). For more information please visit: www.rhimagnesita.com
(http://www.rhimagnesita.com)

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