Rhr & Magnesita - Creating A Leading Refractory Company

RHI and the controlling shareholders of Magnesita, GP and Rhone, have reached an agreement to combine the operations of RHI and Magnesita to create a leading refractory company. The new company, RHI Magnesita, will be established in the Netherlands and listed in London. Accordingly, RHI's management board has agreed to sign a share purchase agreement with Magnesita's controlling shareholders regarding the acquisition of a controlling stake of at least 46% but no more than 50% plus one share of the entire share capital in Magnesita, pending RHI's supervisory board approval.