RHI Magnesita

Last updated
RHI Magnesita
Company type Naamloze vennootschap
Industry Refractories
Founded1908
Headquarters Vienna, Austria
Key people
Herbert Cordt (Chairman)
de:Stefan Borgas (CEO)
RevenueDecrease2.svg €3,487 million (2024) [1]
Decrease2.svg €242 million (2024) [1]
Decrease2.svg €154 million (2024) [1]
Number of employees
20,000 (2026) [2]
Website www.rhimagnesita.com/

RHI Magnesita N.V. is a supplier of refractory products, systems and services. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Contents

History

Origins

In 1908, Mining engineer Josef Hörhager discovered a magnesite deposit at Millstätter Alpe in Austria. [3] The German-American Emil Winter acquired the mining rights and founded the "Austro-American Magnesite Company" (later Radex Austria). [3]

Growth

In 1974 the company was bought by National Refractories Co. and in 1987 Radex-Heraklith Industriebeteiligungs AG (RHI AG) emerged from the National Refractories Co. as a result of a management buyout. [3] In 1991, RHI AG acquired Veitscher Magnesitwerke Actien-Gesellschaft, a rival business founded by Carl Spaeter in Germany in 1889. [3]

In 1995, RHI AG acquired a majority stake in its previous competitor Didier-Werke AG. [note 1] [3]

RHI AG acquired Global Industrial Technologies (GIT) in 2000. [3] GIT had a subsidiary, APG (formerly A.P. Green Refractories Company), which has been named as defendant in hundreds of thousands of asbestos-related injury litigation cases. [4] GIT entered bankruptcy under Chapter 11, Title 11, United States Code in February 2002. [4] RHI AG sold its North American subsidiaries, including GIT, later in the year. [3] Harbison-Walker Refractories, A.P. Green and North American Refractories were merged and spun off as ANH Refractories Company in 2002 (renamed HarbisonWalker International in 2015). [5] In 2004, the company was required to pay a civil penalty of $650,000 for failing to undertake asbestos remediation at a plant in Marelan, Quebec, Canada which it had been ordered to sell to Resco Products, Inc. in 1999. [6]

RHI Magnesita

In October 2017 RHI AG merged with Magnesita, a Brazilian competitor, delisted from the Vienna Stock Exchange and secured a listing on the London Stock Exchange as RHI Magnesita. [7] The RHI Magnesita shares can still be traded via the global market segment of the Vienna Stock Exchange. [8] [9] In 2024, it acquired the US-based Resco Group to expand the capacity of its supply chain in the USA. [10]

India

The company completed the takeover of Stopinc AG (Switzerland) in 2012 [11] and bought a majority stake in Orient Refractories. [12] In May 2021, RHI Magnesita merged its other two Indian subsidiaries, RHI Clasil and RHI India, into Orient Refractories, which was publicly listed. [13] In July 2021, Orient Refractories was renamed to RHI Magnesita India. [14] RHI Magnesita India is publicly listed on the National Stock Exchange of India and the Bombay Stock Exchange. [15]

Operations

The company produces roughly 3 million tons of refractory products each year at 35 main production and 10 main raw material sites around the world. [16] [17] [18]

Notes

  1. ↑ founded by Friedrich Ferdinand Didier in 1834 when he acquired a brick and lime firing plant near Szczecin in Poland, and established the factory "Chamottefabrik F. Didier" in Podjuchy, thus becoming one of the first manufacturers of refractory bricks in Germany

References

  1. 1 2 3 "Annual Results 2024" (PDF). RHI Magnesita. Retrieved 27 February 2025.
  2. ↑ "Facts and figures". RHI Magnesita. Retrieved 28 January 2026.
  3. 1 2 3 4 5 6 7 "RHI AG: history". Funding Universe. Retrieved 30 November 2017.
  4. 1 2 "In re Global Industrial Technologies, Inc.: Chapter 11, Debtors". Leagle. Retrieved 10 April 2018.
  5. ↑ Justine Coyne. "ANH Refractories rebrands as HarbisonWalker International". bizjournals.com. Pittsburgh Business Times. Retrieved 2016-08-03.
  6. ↑ "RHI AG to Pay $650,000 Civil Penalty and Perform Asbestos Cleanup to Settle FTC Order Violation Charges". Federal Trade Commission. 19 February 2004. Retrieved 9 April 2018.
  7. ↑ "Industrial giant RHI Magnesita shrugs off Brexit with new London listing". City AM. 26 October 2017. Retrieved 30 November 2017.
  8. ↑ "RHI MAGNESITA N.V. (NL0012650360) - Preisdaten". Wiener Börse. Retrieved 9 April 2018.
  9. ↑ "Wiener Börse: ATX stagniert, Handelsvolumen steigt". Trend. Archived from the original on 2018-04-10. Retrieved 2018-04-09.
  10. ↑ "RHI Magnesita to Expand U.S. Footprint Through Acquisition". www.aist.org. Retrieved 2025-09-11.
  11. ↑ "RHI takes over refractory speciality producer". Glass online. 31 January 2012. Retrieved 30 November 2017.
  12. ↑ "RHI acquiring 43.6% in Orient Refractories for $41M". VC Circle. 15 January 2013. Retrieved 30 November 2017.
  13. ↑ Dilipkumar, Bhavya (19 May 2021). "RHI Magnesita's two Indian businesses merge with Orient Refractories Limited". The Economic Times. Retrieved 2022-06-28.
  14. ↑ India Infoline News Service (5 July 2021). "Orient Refractories renames as 'RHI Magnesita India'; Stock zooms 4%". www.indiainfoline.com. Retrieved 2022-06-27.
  15. ↑ "RHI Magnesita India Ltd". Business Standard India. Retrieved 2022-06-26.
  16. ↑ "RHI Magnesita starts trading on London Stock Exchange". Global Cement. Retrieved 9 April 2018.
  17. ↑ "Stefan Borgas new president of the WRA". Financial Times. Retrieved 9 April 2018.
  18. ↑ "RHI Magnesita Factsheet" (PDF). RHI Magnesita.
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