Global high-grade refractory supplier RHI Magnesita (RHIM) has announced that it has acquired US-based refractory producer Resco Group for $410 million, marking the most significant investment by the company since the merger of RHI and Magnesita in 2017.
The acquisition will allow RHIM to strengthen its position as well as to improve the supply chain and significantly increase domestic production in the US market. As a result, the company will reduce US customers’ dependence on imports and cut lead times.
In the meantime, RHIM’s advanced recycling techniques will not only contribute to decarbonization efforts but also reduce waste by converting used refractory materials into reusable raw materials.
RHIM’s refractory products are vital for production in several industries including steel and cement.