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[January 2007]
RHI Acquires 51% Stake in Clasil Refractories
RHI AG (Vienna, Austria) has announced it has increased its stake in Clasil Refractories Ltd. Clasil Refractories is currently commissioning a refractories plant in Venkatapuram, Andhra Pradesh, India. An extension of the plant to include the production of bricks and mixes, the production of prefab parts and a manufacturing line for slide gate plates is scheduled for mid-2007.The Venkatapuram site has an excellent logistic location approximately 50km south-west of Vishakhapatnam, the largest east Indian harbour, and is optimally positioned strategically with a view to the growing steel and cement industries in east India and possible exports to the Middle East and Asia.
RHI Refractories has become the largest importer of refractories in India but so far has not operated any local production capacities. The sustained significant economic growth in India and the continuous development of the infrastructure will lead to a substantial extension of production capacity, especially of steel and cement, with the demand for high-grade refractory solutions growing correspondingly. To ensure optimal service for customers in India, RHI regards it as crucial to further increase its presence in this important emerging market and offer complete package solutions from local production.
In the course of a capital increase, RHI Refractories will initially take over 51% of the shares in Clasil Refractories Ltd. Having acquired this stake, RHI now has a first production centre at its disposal. In the future, the local sales and service experts of Clasil and RHI will work this important emerging market even more intensively with optimum customer solutions.
www.rhi-ag.com
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