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Important step in strategy to increase market participation in North America:
RHI Magnesita, the leading global supplier of high-grade refractory products, systems and solutions, acquired Missouri Refractories Co, Inc. (MORCO).
“With its more than 45 years of experience in fulfilling the needs of demanding, highly loyal and satisfied customers, MORCO perfectly fits into RHI Magnesita’s strategy to strengthen our position in the North American refractory market. The dedicated team in Pevely, MO, truly is an asset that will contribute to RHI Magnesita’s success in the whole region,” said Stefan Borgas, CEO RHI Magnesita.
The site is strategically located in the Midsouth of the United States, a region that is rapidly growing in importance for RHI Magnesita. It produces over 400 high-quality monolithic mixes, which serve a multitude of industries, including steel, cement, lime and glass. The employees also have the expertise to provide refractory material for the petrochemical industry.
“As a global leader, we look forward to continuing MORCO’s success story and servicing all of the existing customers. In addition, we will open up new opportunities, grow the business and develop new markets for all of these high-quality products and applications,” added Borgas.
About RHI Magnesita
RHI Magnesita is the leading global supplier of high-grade refractory products, systems and solutions 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. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves customers in nearly all countries around the world. The Company has a high level of geographic diversification with more than 14,000 employees in 35 main production sites and more than 70 sales offices around the world. RHI Magnesita intends to leverage its global 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.
Its shares have a premium listing on the London Stock Exchange (symbol: RHIM) and are a constituent of the FTSE 250 index. For more information please visit: www.rhimagnesita.com