RHI Magnesita: chairman and CEO opened the market

RNS Number : 9493U

RHI Magnesita N.V.

30 October 2017

 

RHI Magnesita: chairman and CEO have opened the market to mark the success of the listing on 27 October

·	Chairman of the Board of Directors Cordt and CEO Borgas have opened the market at the London Stock Exchange on Monday
·	Closing as a start of new corporate culture, new branding and new logo
·	Repositioning in the market and integration as next major steps

Vienna/London, October 30, 2017 - RHI Magnesita has been admitted to trading in the Premium Segment of the Main Market on the London Stock Exchange since last Friday. Today, Herbert Cordt, Chairman of the Board of Directors of RHI Magnesita, and Stefan Borgas, CEO of RHI Magnesita, have opened the market at the start of the trading day on the London Stock Exchange. Herbert Cordt on the future of the Group: "After the successful combination, RHI Magnesita is now fully dedicated to the strategic repositioning as the global leader in the refractory industry. With our 14,000 employees, we can drive positive change in our industry and aim to offer our customers an even greater value proposition in the future." Among others, Martin Eichtinger, Austrian ambassador, and Thiago Osti, Head of the Trade & Investment Section of the Brazilian Embassy, as well as the trade commissioners of both countries, Katharina Kastner and Christian Kesberg (Austria) and Sidney Romeiro (Brazil) were present at the Market Opening Ceremony of RHI Magnesita.

Opening the market at 8 a.m. also serves as a symbolic act: on the one hand, it is an internal message addressed to all employees that the combination has now been completed; on the other hand, RHI Magnesita presents itself as a new member of one of the world's most important financial centers, the London Stock Exchange.

RHI Magnesita - the driving force of the refractory industry

The new company has risen to the top of the refractory industry a result of the combination and plans to strengthen and further expand this role. RHI Magnesita operates 35 raw material and production plants and more than 70 sales offices worldwide and its product portfolio comprises more than 120,000 individual refractory products. In addition, RHI Magnesita invests more than any other competitor in production and service innovations every year focused at two main R&D centres in Leoben (Austria) and Contagem (Brazil).

New branding and logo for a common corporate culture

Stefan Borgas explains the background of the new banding: "Our brand is a promise to our customers and employees. It is about seamless continuity for our customers and about transparent change processes for our employees, as well as the clearest possible communication of the integration measures. With the branding, we are setting a clearly visible signal, which is also intended to support the integration of the two companies."

In the integration, the management of RHI Magnesita builds on collaborative, cross-functional work for the benefit of the customers. The new RHI Magnesita brand and the new logo are intended to help build a bridge for the employees of the two companies.

The positioning of the brand is based on three pillars:

·	Global presence: Thanks to its great geographic reach, RHI Magnesita is in a position to supply and service customers around the world better than other manufacturers and to ensure supply continuity even under challenging circumstances.
·	Innovation: The company drives innovation in all segments; this equally refers to materials, automation, big data and new business models.
·	Mindset: The employees of RHI Magnesita act customer-focused and innovatively. They are open to change and new ideas.

The new logo and the visual system based on it consist of a horizontal eight, the symbol of infinity, and the shapes of refractory bricks. The RHI Magnesita brand stands for the continuity of commitment and service, the connection of employees and customers around the world and the underlying solidity of refractory products. Stefan Borgas says: "The combination offers us the unique opportunity to create a new, common corporate culture. I consider this an important step towards a successful implementation of the integration. It is clear that we still have to fill the promises of the new brand with life and deliver them."

About RHI Magnesita

RHI Magnesita is the result of the combination of RHI and Magnesita to form the leading global 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.

With more than 14,000 employees in 35 main production sites and more than 70 sales offices, the company has unmatched geographic diversification. RHI Magnesita intends to use its global leadership in revenue, greater scale, complementary product portfolio and diversified geographic presence to target markets and regions benefitting from more dynamic economic growth prospects.

The combined company generated pro forma €2.5 billion in revenues in the financial year 2016. For further information please visit www.rhimagnesita.com 

Enquiries:

RHI Magnesita N.V.

Stefan Rathausky, Head of Corporate Communications    

Tel [phone]

E-mail: [e-mail]

 

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