 | |
| Company type | Naamloze vennootschap |
|---|---|
| Industry | Refractories |
| Founded | 1908 |
| Headquarters | Vienna, Austria |
Key people | Herbert Cordt (Chairman) de:Stefan Borgas (CEO) |
| Revenue |  €3,487 million (2024)[1] |
| €242 million (2024)[1] | |
| €154 million (2024)[1] | |
Number of employees | 15,000 (2024)[2] |
| Website | www.rhimagnesita.com/ |
RHI Magnesita N.V. is a supplier ofrefractory products, systems and services. It is listed on theLondon Stock Exchange and is a constituent of theFTSE 250 Index.
In 1908,Mining engineer Josef Hörhager discovered a magnesite deposit at Millstätter Alpe inAustria.[3] The German-American Emil Winter acquired the mining rights and founded the "Austro-American Magnesite Company" (later Radex Austria).[3]
In 1974 the company was bought by National Refractories Co. and in 1987 Radex-Heraklith Industriebeteiligungs AG (RHI AG) emerged from the National Refractories Co. as a result of amanagement buyout.[3] In 1991, RHI AG acquired Veitscher Magnesitwerke Actien-Gesellschaft, a rival business founded by Carl Spaeter inGermany in 1889.[3]
In 1995, RHI AG acquired a majority stake in its previous competitor Didier-Werke AG.[note 1][3]
RHI AG acquired Global Industrial Technologies (GIT) in 2000.[3] GIT had a subsidiary, APG (formerly A.P. Green Refractories Company), which has been named as defendant in hundreds of thousands of asbestos-related injury litigation cases.[4] GIT entered bankruptcy underChapter 11, Title 11, United States Code in February 2002.[4] RHI AG sold its North American subsidiaries, including GIT, later in the year.[3]Harbison-Walker Refractories, A.P. Green and North American Refractories were merged and spun off as ANH Refractories Company in 2002 (renamedHarbisonWalker International in 2015).[5] In 2004, the company was required to pay a civil penalty of $650,000 for failing to undertake asbestos remediation at a plant inMarelan,Quebec,Canada which it had been ordered to sell to Resco Products, Inc. in 1999.[6]
In October 2017 RHI AG merged with Magnesita, a Brazilian competitor, delisted from theVienna Stock Exchange and secured a listing on theLondon Stock Exchange as RHI Magnesita.[7] The RHI Magnesita shares can still be traded via the global market segment of theVienna Stock Exchange.[8][9] In 2024, it acquired the US-based Resco Group to expand the capacity of its supply chain in the USA.[10]
The company completed the takeover of Stopinc AG (Switzerland) in 2012[11] and bought a majority stake in Orient Refractories.[12] In May 2021, RHI Magnesita merged its other two Indian subsidiaries, RHI Clasil and RHI India, into Orient Refractories, which was publicly listed.[13] In July 2021, Orient Refractories was renamed to RHI Magnesita India.[14] RHI Magnesita India is publicly listed on theNational Stock Exchange of India and theBombay Stock Exchange.[15]
The company produces roughly 3 million tons of refractory products each year at 35 main production and 10 main raw material sites around the world.[16][17][18]
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