RHI Magnesita to acquire Indian refractory business of Dalmia Bharat

RHI Magnesita, the leading global supplier of refractory products, announces the acquisition of the Indian refractory business of Dalmia Bharat Refractories (“DBRL”). DBRL is one of India’s leading refractory players and a long-term trusted partner to customers in the region. The acquisition will significantly increase RHI Magnesita’s presence in the fast-growing Indian refractory market, with forecast steel production growth in India of 12 per cent in 2022 and a 7-8 per cent compound annual growth rate until 2030. Through the consolidation of DBRL’s production into RHI Magnesita’s existing operations, significant network optimisation synergies will be captured. The company employs approximately 1,200 people in India and has a production capacity of more than 300,000 tons of refractory annually, from five refractory plants and raw material sites. The acquisition will add production capacities in important industrial regions in the south and west of India where RHI Magnesita currently has no assets. Also Read Vedanta wants to sell Electrosteel 4 years after purchase CIL expects output from the South Eastern Coalfields