RHI: Expansion of European Raw Material Supply through Acquisition

IndustrialsIndustrial Goods ♦ Published: May 12, 2011; 16:34 ♦ (Vindobona)

RHI signed a contract to acquire SMA Mineral Magnesia AS (SMA), Norway.

RHI: Expansion of European Raw Material Supply through Acquisition / Picture: © Vindobona.org

The purchase price amounts to NOK 100m (about € 13m); the purchase contract contains a few conditions, which must be met prior to the closing on or before 31 August 2011. SMA produces seawater-based magnesium hydroxide, which can be processed to fused magnesia.

RHI will subsequently invest up to € 70m in a fusing plant at the site of SMA. Starting in the summer of 2012, RHI…