RHI has announced the completion of the merger with Magnesita

RHI has completed its merger with Magnesita Refratarios, resulting in a new company called RHI Magnesita.

The new company is called RHI Magnesita

The European Commission approved the combination of RHI AG and Magnesita Refratarios in June provided RHI sold its entire dolomite business in the European Economic Area, which concerned production sites in Marone; Italy, and Lugones; Spain.

Magnesita had to sell its production, sale, and related activities of magnesia-carbon bricks in the EEA, concentrated in Oberhausen; Germany.

RHI AG and Magnesita agreed to sell these plants to Intocast Aktiengesellschaft Feuerfest-Produkte und Gießhilfsmittel for EUR 42.6 million in September.

EUR 40.0 million is payable upon completion and EUR 2.6 million will be paid on the second anniversary of the closing date. The new company is called RHI Magnesita.