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RHI Magnesita NV - FTSE-250 listed Vienna-based supplier of refractory products - Enters joint venture with Germany-based Horn & Co, a collector and processor of spent refractory material in Europe. RHI Magnesita will hold a majority stake of 51%. The JV, named Horn & Co. RHIM Minerals Recovery GmbH, will process 150,000 tonnes per year of material, the company adds. ‘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,’ RHI Magnesita Chief Executive Stefan Borgas says.
Argjend Kameraj, Chief Executive of Horn, comments: ‘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’. The JV will combine recycling facilities operated by Horn in Siegen, North Rhine-Westphalia, Germany and at RHI Magnesita's Mitterdorf plant in Styria, Austria.
Current RHI Magnesita stock price: 2,524.00 pence, up 1.0% on Monday
12-month change: down 38%
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