Business
RHI Magnesita: investment in China
RHI Magnesita: investment in China.
About this update from Rhi Magnesita Nv
[{"type":"text","content":"\n \nRNS Number : 6533S RHI Magnesita N.V. 26 June 2018 \n\n \nRHI Magnesita: investment in China to strengthen market position and address global supply shortages\nVienna/London, June 26, 2018 - RHI Magnesita, the leading global supplier of high-grade refractory products, systems and services, has today announced that it is to increase investment in the strategically important Chinese market by investing above EUR 20 million in its dolomite plant in Chizhou, Anhui Province in China. This is part of a decisive response to address global pressures in the supply of raw materials to the refractory industry and provide additional volumes to its customers worldwide rapidly.\nThe Chizhou site includes an extensive dolomite mine and raw material production as well as facilities for the production of high-quality dolomite-based finished products. Successful trials are already underway in the brick plant in Chizhou where it is planned to start production by the beginning of 2019. The raw dolomite mine is planned to resume operation by the end of 2019. This overall investment will eventually lead to the creation of up to 250 jobs.\nRHI Magnesita's level of raw material integration and customer service will further increase\nStefan Borgas, CEO of RHI Magnesita, comments: \"One of the reasons for the merger of RHI and Magnesita last year was to create a global leader in the refractory industry capable of capitalizing on growth potential including in China and Asia. After a detailed analysis of the global supply situation for refractory raw materials, as well as of our own production and supply chain, we have taken swift and decisive action to invest above €20 million in the Chizhou site in China, further enhancing our leading global market position. After the completion of the investment, RHI Magnesita will be able to offer a fully integrated dolomite source in each of the big regions of the world to our customers and simultaneously offer dual sourcing options.\" \n\"The investment in China marks another important strategic step towards improving our competitiveness and supply security in the medium term. It will increase our level of raw material integration, improving our unique position in the industry. With this investment, we can offer our customers in Asia shorter lead times and provide additio...