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RHI Magnesita N.V. is a supplier of
refractory In materials science, a refractory material or refractory is a material that is resistant to decomposition by heat, pressure, or chemical attack, and retains strength and form at high temperatures. Refractories are polycrystalline, polyphase, ...
products, systems and services. It is listed on the
London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...
and is a constituent of the FTSE 250 Index.


History

In 1908 Mining engineer Josef Hörhager discovered a magnesite deposit at Millstätter Alpe in
Austria Austria, , bar, Östareich officially the Republic of Austria, is a country in the southern part of Central Europe, lying in the Eastern Alps. It is a federation of nine states, one of which is the capital, Vienna, the most populous ...
. A German American, Emil Winter, acquired the mining rights and founded the "Austro-American Magnesite Company" (later Radex Austria). In 1974 the company was bought by National Refractories Co. and in 1987 Radex-Heraklith Industriebeteiligungs AG ('RHI AG') emerged from the National Refractories Co. as a result of a management buyout. Then in 1991 RHI AG acquired Veitscher Magnesitwerke Actien-Gesellschaft, a rival business founded by Carl Spaeter in
Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...
in 1889. Next, in 1995, RHI AG acquired a majority stake in its previous competitor Didier-Werke AG (founded by Friedrich Ferdinand Didier in 1834 when he acquired a brick and lime firing plant near Szczecin in
Poland Poland, officially the Republic of Poland, is a country in Central Europe. It is divided into 16 administrative provinces called voivodeships, covering an area of . Poland has a population of over 38 million and is the fifth-most populou ...
, and established the factory "Chamottefabrik F. Didier" in Podjuchy, thus becoming one of the first manufacturers of refractory bricks in Germany). RHI AG acquired Global Industrial Technologies (GIT) in 2000. GIT had a subsidiary, APG (formerly A.P. Green Refractories Company), which has been named as defendant in hundreds of thousands of asbestos-related injury litigation cases. GIT entered bankruptcy under Chapter 11, Title 11, United States Code in February 2002. RHI AG sold its North American subsidiaries, including GIT, later in the year. In 2004 the company was required to pay a civil penalty of $650,000 for failing to undertake asbestos remediation at a plant in Marelan,
Quebec Quebec ( ; )According to the Canadian government, ''Québec'' (with the acute accent) is the official name in Canadian French and ''Quebec'' (without the accent) is the province's official name in Canadian English is one of the thirtee ...
,
Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
which it had been ordered to sell to Resco Products, Inc. in 1999. The company completed the takeover of Stopinc AG (Switzerland) in 2012 and bought a majority stake in Orient Refractories. In October 2017 RHI AG merged with Magnesita, a Brazilian competitor, and then abandoned its listing on the
Vienna Stock Exchange en, Viennese , iso_code = AT-9 , registration_plate = W , postal_code_type = Postal code , postal_code = , timezone = CET , utc_offset = +1 , timezone_DST ...
and instead secured a listing on the
London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...
as RHI Magnesita. Additionally, the RHI Magnesita shares can still be traded via the global market segment of the
Vienna Stock Exchange en, Viennese , iso_code = AT-9 , registration_plate = W , postal_code_type = Postal code , postal_code = , timezone = CET , utc_offset = +1 , timezone_DST ...
. In May 2021, RHI Magnesita merged its other two Indian subsidiaries, RHI Clasil and RHI India, into Orient Refractories, which was publicly listed. In July 2021, Orient Refractories was renamed to RHI Magnesita India. RHI Magnesita India is publicly listed on the National Stock Exchange of India and the
Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange i ...
.


Operations

The company produces roughly 3 million tons of refractory products each year at 35 main production and 10 main raw material sites around the world.


References


External links

* {{Authority control Manufacturing companies based in Vienna