RHI Magnesita acquires Agellis Group AB

RNS Number : 6951X

RHI Magnesita N.V.

28 November 2017

 

RHI Magnesita acquires Agellis Group AB to extend product portfolio

·   RHI Magnesita acquires 100% of the shares of Agellis Group AB, Lund (Sweden)

·   Strategic extension of RHI Magnesita's product range with advanced innovative measurement technology

·   Transaction supports strategic focus on innovation and digitalization

Vienna, November 28, 2017 - RHI Magnesita announces the acquisition of 100% of the shares of Agellis Group AB, located in Lund, Sweden. Agellis Group specializes in advanced electromagnetic detection systems as well as Infra-Red (IR) technology. The transaction was closed as of October 13, 2017.

Support for RHIM's innovation focus

The purchase of Agellis Group is a part of RHI Magnesita's "Ladle to Mould" strategy to extend the product range with advanced measurement technology for both steel and non-ferrous plants. Agellis Group's products help optimize the molten metal production processes, thus increasing yield, improving quality, reducing maintenance and assisting safety in the production plants. In this mutually beneficial transaction, RHI Magnesita takes another step towards delivering to its customers the most comprehensive range of products and services, while Agellis benefits from RHI Magnesita's global sales network, customer access and industry's largest dedicated R&D team.

"The acquisition of Agellis Group fits perfectly into our strategic pillar of being the top solution provider with an extensive portfolio based on innovative technologies and digitalization", says CEO Stefan Borgas.

The owners of Agellis Group are convinced that this is the best way for the company to facilitate growth and develop new products. "We at Agellis Group are looking forward to this next step, focusing on company growth through RHI Magnesita's expansive network and accelerated product development", says Patrik Bloemer, CEO of Agellis Group.

The Agellis team including management will continue to operate as a team out of Lund, Sweden, as part of the RHI Magnesita's System & Advanced Technologies unit. The operational and financial integration of Agellis is expected to be finished by the end of 2017.

About RHI Magnesita

RHI Magnesita is the result of the combination of RHI and Magnesita to form the global leading supplier of high-grade refractory products, systems and services which are indispensable for industrial high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals, and glass, among others. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves more than 10,000 customers in nearly all countries around the world.

The Company has unmatched geographic diversification with more than 14,000 employees in 35 main production sites and more than 70 sales offices. RHI Magnesita intends to use its global leadership position in terms of revenue, greater scale, complementary product portfolio and diversified geographic presence around the world to target opportunistically those countries and regions benefitting from more dynamic economic growth prospects.

The combined company had pro forma €2.5 billion in revenues in FY2016. For more information please visit www.rhimagnesita.com 

About Agellis

AGELLIS Group AB develops and markets modern, robust solutions for global metal producers. Agellis' solutions enable increased automation, increased process efficiency and improved safety for personnel within metal production. Agellis was founded in 2002 and is today one of the leading players in its market niche. Agellis Group is a fully owned subsidiary of RHI Magnesita and is part of the RHI Magnesita's Systems and Advanced Technologies unit.
More information can be found at www.agellis.com

Enquiries:

RHI Magnesita N.V.

Stefan Rathausky, Head of Corporate Communications    

Tel [phone]

E-mail: [e-mail]

 

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