RATH Group acquired a 33 percent stake in Avanee Refsol India as part of its Evolution 2030+ strategic growth plan. Production is being set up in Visakhapatnam, state of Andhra Pradesh, India, together with the partners of Avanee Refsol. Production is scheduled to start at the beginning of 2025. An annual capacity of 20,000 tonnes of refractory products is projected in a two-stage plan.
In addition to a capital investment, RATH will contribute its expertise in specialty products for refractory applications. “Our specialists from the RATH Group will play a key role in selecting the machines and production processes. In addition, RATH will provide on-site training for employees,” said Ingo Gruber, Chief Technical Officer of Rath AG.
Andreas Pfneiszl, Speaker of the Executive Board, explained the reason for the investment in India: “RATH has defined three main goals in its Evolution 2030+ strategic growth plan: sales growth, increasing profitability and introducing new products and total solutions for our customers. Our customers are no longer located solely in Europe and the USA – we are increasingly able to offer our solutions worldwide. This requires access to larger production capacities outside our current production sites. The investment in India will enable us to reach the Asian growth market better and faster.”
Alexandra Rester, CFO of RATH AG, added, “With this investment in completely new machines and our proximity to the future markets, we can make a significant contribution to sustainability.”