Magnesita merger with Austrian RHI creates global giant in the industry

In an operation that creates a global leading company in the refractories market, mainly used in the steel industry, Brazil’s Magnesita, the third largest manufacturer in the world in this sector, merged their businesses to the Austrian giant RHI, based in Vienna. With the merger of assets, it is formed RHI Magnesita, which will have an annual revenue of approximately € 2.7 billion (R $ 9.8 billion).

The new company, which will have dispersed control, in line with the current profile of RHI, will have its shares listed on the London Stock Exchange. The corporate headquarters will be established in the Netherlands and the Austrian company stocks will be de-listed from the Vienna stock exchange.