RHI Magnesita N.V. Acquisition of P-D Refractories (4471O)
03 Octubre 2023 - 1:00AM
UK Regulatory
TIDMRHIM
RNS Number : 4471O
RHI Magnesita N.V.
03 October 2023
RHI Magnesita N.V.
("RHI Magnesita" or "the Group")
Acquisition of P-D Refractories
RHI Magnesita announces the acquisition of the Germany, Czech
Republic and Slovenia based refractory businesses of the
Preiss-Daimler Group ("P-D Refractories") for a cash consideration
of approximately EUR45 million ("the Acquisition").
About P-D Refractories
P-D Refractories is a producer of high quality alumina-based
refractories for industrial applications in process industries,
with a leading market position in the glass and aluminium sectors.
Previously part of the Preiss-Daimler Group, the assets acquired
include refractory plants in Germany and Czech Republic and clay,
quartzite and silica raw material sites in Czech Republic and
Slovenia.
P-D Refractories recorded revenues of EUR171 million in the year
to 31 December 2022 and had Gross Assets of EUR187 million at 31
December 2022.
Benefits of the Acquisition
The Acquisition will increase RHI Magnesita's capabilities in
alumina-based refractories and its presence in process industries,
where the Group is currently under-represented compared to other
customer sectors. Substantial synergies are expected to be
generated through access to new customers and cross-selling
opportunities, production network and logistics efficiencies,
vertical integration benefits, recycling, technology transfer and
procurement savings .
The acquisition is not expected to result in a material increase
in gearing for the Group on a pro forma EBITDA basis. The cash
consideration for the acquisition is to be funded by RHI
Magnesita's existing committed and undrawn facilities and cash.
Commenting on the Acquisition, Stefan Borgas, Chief Executive
Officer of RHI Magnesita, said:
"The production capabilities and vertical integration of P-D
Refractories, combined with RHI Magnesita's know-how and renowned
R&D capabilities, will complement our product portfolio and
enlarge our production footprint and sales channels on a global
scale. This acquisition is our sixth transaction to close in the
year to date and marks a major milestone for both companies in the
process industries sector. Together we look forward to expanding
our footprint and strengthening our market presence by offering
high-grade refractory products and solutions to an enlarged
customer base."
For further enquiries, please contact:
Chris Bucknall, Head of Investor Relations
Tel +43 699 1870 6490
E--mail: chris.bucknall@rhimagnesita.com
Media:
Hudson Sandler
Mark Garraway, Emily Dillon, Nick Moore
Tel +44 020 7796 4133
E-mail: rhimagnesita@hudsonsandler.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 1,200degC 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 15,000
employees in 47 production sites, 7 recycling facilities and more
than 70 sales offices. RHI Magnesita intends to build on its
leadership in revenue, scale, product portfolio and diversified
geographic presence to expand further in high growth markets.
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 Vienna Stock
Exchange (Wiener Börse). For more information please visit:
www.rhimagnesita.com
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END
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