RHI Magnesita Acquires P-D Refractories

RHI Magnesita, a leading global supplier of high-quality refractory products, systems and solutions, has announced the completion of its acquisition of the refractory operations of Preiss-Daimler Group ("P-D Refractories") based in Germany, Czech Republic and Slovenia. P-D Refractories holds a leading market position in the glass and aluminium sectors and is a high-quality producer of alumina-based refractories for industrial applications in process industries. P-D Refractories offers a product range including high-alumina specialties, bauxite, andalusite, silica, fireclay and magnesia bricks. The company generated revenues of EUR 171 million in 2022. The acquisition presents numerous growth opportunities, notably enabling RHI Magnesita to offer a significantly expanded product and service portfolio to a broader customer base. P-D Refractories' customers comprise a wide range of clients in process industries, particularly in the glass and aluminium sectors. Although P-D Refractories' production facilities are located in Europe, the company has a global market presence through its well-established brands (such as Dr. C. Otto) respected by customers worldwide and its high-performance products. Through this acquisition, RHI Magnesita has added four production facilities (in Germany and Czech Republic) and two raw material mines (in Czech Republic and Slovenia) to its global production network. P-D Refractories' vertical integration represents a significant advantage and integrates seamlessly with RHI Magnesita's existing production footprint in Europe. Important benefits are also expected through the integration of RHI Magnesita's expertise in the recycling sector into P-D Refractories' operations. The acquisition also aims to achieve significant synergies through cross-selling opportunities, supply chain efficiency and streamlined logistics. Stefan Borgas, CEO of RHI Magnesita, stated: "When P-D Refractories' production capabilities and vertical integration are combined with RHI Magnesita's expertise and recognized research and development capabilities, this will complement our product portfolio and expand our production footprint and sales channels on a global scale. This acquisition represents the sixth transaction we have completed within the year and marks an important milestone for both companies in the process industries sector. Together, we look forward to expanding our footprint and strengthening our market presence by offering high-quality refractory products and solutions to a broader customer base." Source