The recently signed MOU between Austrian RHI and the Republic of Serbia and the City of Kraljevo regards RHI’s interest in acquiring the assests of Magnohrom d.o.o., which include magnesite mines.
RHI has signed a non-binding MOU (Memorandum of Understanding) together with representatives of the Republic of Serbia and the City of Kraljevo. In this MOU, RHI expresses its interest to pursue an acquisition of the assets of Magnohrom d.o.o.
These assets include magnesite mines and will require production capacities that need approximately 400 people for its operations.
RHI expects the sale process to be initiated by the Serbian government by mid-year and is considering investing up to EUR 60 million for this project within the next five years.
This project is part of the strategic drive of RHI to increase its backward integration in raw materials.
RHI AG is a global world market and technology leader for high-grade ceramic refractory materials. A global player with Austrian roots, RHI employs about 8,000 people at 33 production sites in Europe, North and South America, South Africa and China and is represented by more than 70 sales offices on four continents. The company’s headquarters is based in Vienna, Austria. In the financial year 2011, RHI realized revenues of EUR 1,758.6 million (2010: EUR 1,522.9 million). The RHI share is listed on the Prime Market of the Vienna Stock Exchange (ATX).