Decisive step towards circular economy resulting in
significant reduction in CO2 emissions
VIENNA and SIEGEN, Germany, March 28,
2022 /PRNewswire/ --RHI Magnesita and the Horn & Co.
Group announce their agreement to combine their recycling
activities in Europe to increase
the production, use and offering of secondary raw material for the
European refractory industry targeting a substantial reduction of
CO2 emissions. In the future, the newly created joint
venture will operate as Horn & Co. RHIM Minerals Recovery
GmbH.
This partnership will position the future company at the
forefront of the circular economy for customers in the steel,
cement, glass and other process industries. As a result, RHI
Magnesita's ambitious plans to globally increase the recycling rate
in its products from below three percent in 2020 to more than 10
percent in 2025 can be achieved earlier – marking an important step
towards a targeted 15 percent reduction in carbon emissions by
2025.
Increased use of secondary raw materials – substantial
CO2 reduction
Refractory producers such as RHI Magnesita can achieve a saving
of 1.8 tons of CO2 for every ton of recycled material
used. At the onset, Horn & Co. RHIM Minerals Recovery GmbH will
process more than 150,000 tons of material per year.
"By increasing our focus in this key area, we will make a
significant contribution to the global climate protection. We will
conserve natural resources while at the same time expanding our
business." explains Stefan
Borgas, CEO of RHI Magnesita. "With the combination of
the recycling activities, RHI Magnesita and Horn & Co. Group
become the driving force of circular economy in the refractory
industry. Going forward, refractory users will benefit from
increasing circular economy solutions included in our full line
service contracts and customers of Horn & Co. RHIM Minerals
Recovery GmbH will be able to source sustainable and high-quality
raw materials."
A key feature of Horn & Co. RHIM Minerals Recovery GmbH is
the strategically beneficial location of its main plants in and
around Siegen in North Rhine-Westphalia, Germany, and Mitterdorf in Styria,
Austria. Combined, the two sites
are ideally placed to serve customers throughout Europe. RHI Magnesita and Horn & Co. Group
will also support the new company to tap into new markets to
continuously develop new opportunities in the field of circular
economy.
Long-term relationship of trust fuels innovation for the
environment
Both partners have worked together for many years, with RHI
Magnesita purchasing the majority of its secondary raw materials
from Horn & Co Group. Thus, a close and trustful relationship
has evolved over time – forming an ideal basis for a joint and
sustainable future. By acquiring 51 percent of the shares of the
Joint Venture, and contributing its own recycling operations in
Austria, RHI Magnesita decided to
enter into a long-term partnership with the Horn & Co. Group to
shape the future of recycling and secondary raw material production
together. The agreement is still subject to approval by the
competition authorities and regulators.
"By joining our forces, we will be able to expand our range
of services and solutions and give a significant push to circular
economy solutions. With the Horn & Co. Group as a distinct
expert in recycling, we can accelerate our offering of sustainable
services and products to our customers in all industries. Now it's
about bringing a proven business model to a larger scale and
becoming the leading recycling platform in Europe and beyond" comments Borgas.
"As a trusted partner for many years, RHI Magnesita has all
the necessary resources that a sustainability driver in this
industry needs. RHI Magnesita and Horn & Co. Group complement
each other excellently in their core competencies. Together, we can
achieve even greater effectiveness and market stability for our
recycling raw materials and resulting products. In this way, we
want to develop new technologies together and offer the CERO-Waste
concept to a wider range of customers - and thus shape the future
of Europe's industry in a more
sustainable way" Argjend
Kameraj, CEO at the Horn & Co. Group, adds.
"Recycling is the future - especially in our industry. A
closed material cycle is essential for sustainable business and the
responsible use of valuable resources. The decision to create a
joint recycling platform not only significantly advances our own
company in this respect, but also sets an example that has an
impact going far beyond," adds Sabrina
Salmen, Senior Executive VP Recycling at RHI Magnesita.
About RHI Magnesita
RHI Magnesita is the global leader in high-value refractory
products, systems and services essential for high-temperature
industrial processes above 1,200 °C. We master heat for global
industries to enable modern, sustainable living. With a vertically
integrated value chain from raw materials to refractory products
and performance-oriented total solutions, RHI Magnesita serves
customers in nearly all countries worldwide with approximately
12,000 employees in 28 production plants and more than 70 sales
locations. In order to expand in growing markets, RHI Magnesita
aims to extend its leading position in terms of revenue, size,
product portfolio as well as geographical presence.
The company's shares are listed with a premium listing on the
London Stock Exchange and belong to the FTSE 250 Index, with a
secondary listing on the Vienna Stock Exchange.
For more information, please visit: www.rhimagnesita.com
About Horn & Co. Group
Sophisticated solutions and extensive experience.
Realizing a closed material cycle together.
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