RHI Magnesita N.V. Recycling joint venture (1563G)
28 Marzo 2022 - 12:00AM
UK Regulatory
TIDMRHIM
RNS Number : 1563G
RHI Magnesita N.V.
28 March 2022
28 March 2022
RHI Magnesita N.V.
("RHI Magnesita" or the "Company" or "Group")
Recycling joint venture
RHI Magnesita N.V. ("RHI Magnesita" or "the Group") announces
that it has entered into in a new joint venture with Horn & Co.
Group ("Horn") to accelerate the Group's use of secondary raw
materials in its refractory products.
Horn is one of the largest collectors and processors of spent
refractory material in Europe. The joint venture is expected to
process around 150 ktpa of material and will operate under the name
of Horn & Co. RHIM Minerals Recovery GmbH. RHI Magnesita will
own a 51% stake and the joint venture will combine recycling
facilities operated by Horn in Siegen, North Rhine-Westphalia,
Germany and at the Group's Mitterdorf plant in Styria, Austria.
The joint venture will give RHI Magnesita access to additional
quantities of secondary raw material and improve productivity in
the recycling process through increased scale and the use of
automated sorting and processing equipment. Using secondary raw
material enables the Group to materially reduce its CO(2) emissions
when compared to the use of freshly mined material, with each tonne
of recycled material saving approximately two tonnes of CO(2)
emissions. The joint venture is expected to accelerate the
achievement of the Group's target to increase the use of secondary
raw material to 10% of its raw material consumption.
Stefan Borgas, Chief Executive of RHI Magnesita, said "Through
the combination of our recycling activities, RHI Magnesita and Horn
& Co. Group will become the driving force of the circular
economy in the refractory industry. Our customers will benefit from
access to greater quantities of sustainable and high quality raw
materials, together with enhanced circular economy solutions which
are included as part of our full line services contracts."
Argjend Kameraj, Chief Executive of Horn, said "RHI Magnesita
and Horn complement each other excellently in their core
competencies. Together, we can achieve even greater effectiveness
and market stability for the recycling of raw materials and
resulting products. We will develop new technologies together and
offer the 'CERO-Waste' concept to a wider range of customers,
creating a more sustainable future for industrial producers in
Europe".
For further enquiries, please contact:
Investors: Chris Bucknall, Head of Investor Relations, +43 699
1870 6490
Media: Charles Armitstead, Teneo, +44 7703 330 269
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 12,000
employees in 28 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 Vienna Stock
Exchange (Wiener Börse). For more information please visit:
www.rhimagnesita.com
About Horn & Co. Group
Sophisticated solutions and extensive experience.
Horn & Co. Group operates in the fields of processing,
disposal, control, analysis and sales. The company is a functioning
network comprising four business units: "Industrial Services",
"Minerals Recovery", "Products" and "Analytics". The Group aims to
provide a closed material cycle and the best possible recycling of
raw materials. Horn & Co. Group operates with clockwork
precision; its individual divisions are closely interlinked,
structured towards each other and coordinated down to the last
detail. The successful, modern management system uses the technical
expertise and existing synergies of this strong group of
companies.
Horn & Co. Group - recycling experts since 1922.
For more information, please visit: http://www.horn-co.de
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