Business
RHI Magnesita acquires Agellis Group AB
RHI Magnesita acquires Agellis Group AB.
About this update from Rhi Magnesita Nv
[{"type":"text","content":"\n \nRNS Number : 6951X RHI Magnesita N.V. 28 November 2017 \n\n \nRHI Magnesita acquires Agellis Group AB to extend product portfolio\n· RHI Magnesita acquires 100% of the shares of Agellis Group AB, Lund (Sweden)\n· Strategic extension of RHI Magnesita's product range with advanced innovative measurement technology\n· Transaction supports strategic focus on innovation and digitalization\n \nVienna, November 28, 2017 - RHI Magnesita announces the acquisition of 100% of the shares of Agellis Group AB, located in Lund, Sweden. Agellis Group specializes in advanced electromagnetic detection systems as well as Infra-Red (IR) technology. The transaction was closed as of October 13, 2017.\nSupport for RHIM's innovation focus \nThe purchase of Agellis Group is a part of RHI Magnesita's \"Ladle to Mould\" strategy to extend the product range with advanced measurement technology for both steel and non-ferrous plants. Agellis Group's products help optimize the molten metal production processes, thus increasing yield, improving quality, reducing maintenance and assisting safety in the production plants. In this mutually beneficial transaction, RHI Magnesita takes another step towards delivering to its customers the most comprehensive range of products and services, while Agellis benefits from RHI Magnesita's global sales network, customer access and industry's largest dedicated R&D team. \n\"The acquisition of Agellis Group fits perfectly into our strategic pillar of being the top solution provider with an extensive portfolio based on innovative technologies and digitalization\", says CEO Stefan Borgas.\nThe owners of Agellis Group are convinced that this is the best way for the company to facilitate growth and develop new products. \"We at Agellis Group are looking forward to this next step, focusing on company growth through RHI Magnesita's expansive network and accelerated product development\", says Patrik Bloemer, CEO of Agellis Group. \nThe Agellis team including management will continue to operate as a team out of Lund, Sweden, as part of the RHI Magnesita's System & Advanced Technologies unit. The operational and financial integration of Agellis is expected to be finished by the end of 2017.\n \nAbout RHI Magnesita\nRHI Magnesita is the result of the combination of R...