Recycling joint venture

RNS Number : 1563G

RHI Magnesita N.V.

28 March 2022

 

28 March 2022

RHI Magnesita N.V.

  ("RHI Magnesita" or the "Company" or "Group")

  Recycling joint venture

RHI Magnesita N.V. ("RHI Magnesita" or "the Group") announces that it has entered into in a new joint venture with Horn & Co. Group ("Horn") to accelerate the Group's use of secondary raw materials in its refractory products.

Horn is one of the largest collectors and processors of spent refractory material in Europe. The joint venture is expected to process around 150 ktpa of material and will operate under the name of Horn & Co. RHIM Minerals Recovery GmbH. RHI Magnesita will own a 51% stake and the joint venture will combine recycling facilities operated by Horn in Siegen, North Rhine-Westphalia, Germany and at the Group's Mitterdorf plant in Styria, Austria.

The joint venture will give RHI Magnesita access to additional quantities of secondary raw material and improve productivity in the recycling process through increased scale and the use of automated sorting and processing equipment. Using secondary raw material enables the Group to materially reduce its CO₂ emissions when compared to the use of freshly mined material, with each tonne of recycled material saving approximately two tonnes of CO₂ emissions. The joint venture is expected to accelerate the achievement of the Group's target to increase the use of secondary raw material to 10% of its raw material consumption.

Stefan Borgas, Chief Executive of RHI Magnesita, said "Through the combination of our recycling activities, RHI Magnesita and Horn & Co. Group will become the driving force of the circular economy in the refractory industry. Our customers will benefit from access to greater quantities of sustainable and high quality raw materials, together with enhanced circular economy solutions which are included as part of our full line services contracts."

Argjend Kameraj, Chief Executive of Horn, said "RHI Magnesita and Horn complement each other excellently in their core competencies. Together, we can achieve even greater effectiveness and market stability for the recycling of raw materials and resulting products. We will develop new technologies together and offer the 'CERO-Waste' concept to a wider range of customers, creating a more sustainable future for industrial producers in Europe".

For further enquiries, please contact:

Investors: Chris Bucknall, Head of Investor Relations, [phone]

Media:  Charles Armitstead, Teneo, [phone]

About RHI Magnesita

RHI Magnesita is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves customers around the world, with around 12,000 employees in 28 main production sites and more than 70 sales offices. RHI Magnesita intends to leverage its leadership in terms of revenue, scale, product portfolio and diversified geographic presence to target strategically those countries and regions benefitting from more dynamic economic growth prospects.

The Group maintains a premium listing on the Official list of the London Stock Exchange (symbol: RHIM) and is a constituent of the FTSE 250 index, with a secondary listing on the Vienna Stock Exchange (Wiener Börse). For more information please visit: www.rhimagnesita.com

About Horn & Co. Group

Sophisticated solutions and extensive experience.

Horn & Co. Group operates in the fields of processing, disposal, control, analysis and sales. The company is a functioning network comprising four business units: "Industrial Services", "Minerals Recovery", "Products" and "Analytics". The Group aims to provide a closed material cycle and the best possible recycling of raw materials. Horn & Co. Group operates with clockwork precision; its individual divisions are closely interlinked, structured towards each other and coordinated down to the last detail. The successful, modern management system uses the technical expertise and existing synergies of this strong group of companies.

Horn & Co. Group - recycling experts since 1922.

For more information, please visit: http://www.horn-co.de

 

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