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[November 2008]
RHI signs EUR 30 million framework contract with Qatar Steel
RHI AG, Vienna stock exchange listed global leader in refractories, has just signed a contract with Qatar Steel, one of the leading steel producers in the Near and Middle East, for the supply of high-tech refractory products and technological know-how. The EUR 30 million contract prolongs the existing partnership for another four years, and also extends its scope.
Qatar Steel Company has been using RHI’s refractory technology concepts and products very successfully since 2005, and has achieved significant capacity increases and cost savings. During a recent visit of Qatar Steel’s Managing Director, Sheikh Nasser Hamad Al-Thani, to Vienna it was agreed to broaden the existing cooperation and extend the contract for another four years. RHI will supply the rapidly expanding enterprise with two more high-tech heat resistant gunning robots equipped with laser technology – an RHI innovation – for use in electric arc furnaces at temperatures of 1,500° Celsius, together with refractory products and services for other steel-making aggregates and applications to a total value of EUR 30 million. RHI technological and product know-how has given Qatar Steel even more efficient, precise and safe ways of dealing with the refractory fittings in its aggregates. In addition, savings in maintenance time and repair materials and increases in productivity through improved plant availability are expected. The entire technology package will enable Qatar Steel Company to produce an additional 70,000 metric tonnes of liquid steel each year.
About RHI - AG RHI is global market and technology leader in high-grade ceramic refractory products and services, and is headquartered in Vienna. The Group employs 7,950 people at 33 production and about 50 service locations worldwide and reported revenues amounting to € 1.2 billion in the first three quarters of 2008. 1,900 employees work at seven locations in Austria. RHI stock is listed in the Prime Market of the Vienna Stock Exchange, and forms part of the ATX stock index.
About Qatar Steel - Established in 1978, Qatar Steel Company built the first integrated steelworks in the Persian Gulf. It is a leading steel producer, and is 100% owned by Qatar. Its current annual production is 1.6 million tonnes of liquid steel, further expansion of capacity is planned in the coming years.
ENDS