Business
Recycling joint venture
Recycling joint venture.
About this update from Rhi Magnesita Nv
[{"type":"text","content":"\n \n \n \n RNS Number : 1563G\n RHI Magnesita N.V.\n 28 March 2022\n \n \n \n \n 28 March 2022\n \n \n RHI Magnesita N.V.\n \n \n \n \n \n (\"RHI Magnesita\" or the \"Company\" or \"Group\")\n \n \n \n \n \n Recycling joint venture \n \n \n RHI Magnesita N.V. (\"RHI Magnesita\" or \"the Group\") announces that it has entered into in a new joint venture with Horn & Co. Group (\"Horn\") to accelerate the Group's use of secondary raw materials in its refractory products. \n \n \n Horn is one of the largest collectors and processors of spent refractory material in Europe. The joint venture is expected to process around 150 ktpa of material and will operate under the name of Horn & Co. RHIM Minerals Recovery GmbH. RHI Magnesita will own a 51% stake and the joint venture will combine recycling facilities operated by Horn in Siegen, North Rhine-Westphalia, Germany and at the Group's Mitterdorf plant in Styria, Austria.\n \n \n The joint venture will give RHI Magnesita access to additional quantities of secondary raw material and improve productivity in the recycling process through increased scale and the use of automated sorting and processing equipment. Using secondary raw material enables the Group to materially reduce its CO2 emissions when compared to the use of freshly mined material, with each tonne of recycled material saving approximately two tonnes of CO2 emissions. The joint venture is expected to accelerate the achievement of the Group's target to increase the use of secondary raw material to 10% of its raw material consumption.\n \n \n Stefan Borgas, Chief Executive of RHI Magnesita, said \"Through the combination of our recycling activities, RHI Magnesita and Horn & Co. Group will become the driving force of the circular economy in the refractory industry. 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.\"\n \n \n Argjend Kameraj, Chief Executive of Horn, said \"RHI Magnesita and Horn complement each other excellently in their core competencies. Together, we can achieve even greater effectiveness and market stability for the recycling of raw materials and resulting products. We will develop new technologies togeth...