25.07.2023

New CFO at Doosan Lentjes

On 13 July, Kisoon Park took over the position of Chief Financial Officer (CFO) at Doosan Lentjes, a leading provider of environmental technologies. Kisoon Park replaces Sanghoun Park, who had been in charge of finance on the executive board since 2020.  

24.07.2023

Metso acquires Brouwer Engineering Australia

Metso has signed an agreement to acquire Brouwer Engineering, a privately owned Australian company specializing in automation, control systems, and electrical solutions for bulk material handling solutions.  

Market-Place-4.0 RHI Magnesita N.V.

21.07.2023

RHI Magnesita announces acquisition of Seven Refractories

RHI Magnesita announces acquisition of Seven Refractories (credits: Seven Refractories)

- RHI Magnesita today announces the acquisition of the Europe, India and US operations of Seven Refractories

- acquisition will complement RHI Magnesita’s existing non-basic refractories portfolio and open new opportunities in the development of low CO₂ emitting manufacturing technologies

Seven Refractories is a specialist supplier of non-basic monolithic refractory mixes with broad applications across all the Company’s customer segments including iron and steel, cement, aluminium and non-ferrous metals. Non-basic refractory mixes are expected to become increasingly important with the development of new low CO2 emitting manufacturing technologies within RHI Magnesita’s key customer industries. Products offered by Seven Refractories range from low temperature fireclay to ultra-high temperature zircon mixes, high-grade alumina mixes and sustainable taphole clay with a low CO2 footprint. Seven Refractories employs around 240 staff at its production sites in Slovenia, India and the US and at its sales offices and service centres in Cyprus, Germany, Italy and the United Kingdom. The businesses to be purchased in the acquisition recorded revenues of €105 million and profit before tax of €11.4 million in 2022.

The acquisition will enable RHI Magnesita to offer a broader range of non-basic refractory mixes and is expected to be highly complementary to the Group’s existing non-basic portfolio. Attractive potential synergies are targeted through cross selling opportunities, logistics improvements, increased recycling usage, procurement efficiencies and low capital intensity brownfield expansion projects. The senior management of Seven Refractories, including Chief Executive Officer Erik Zobec, will join the RHI Magnesita Group to drive initiatives focused on non-basic monolithics following completion of the acquisition.

Commenting on the acquisition, Stefan Borgas, Chief Executive Officer of RHI Magnesita, said: “This transaction represents a significant step forward for RHI Magnesita in non-basic refractory mixes which is additive to our existing presence in this market and highly complementary to our overall customer offering. We see compelling opportunities to realise synergies through the integration of Seven Refractories into our existing network and there is a strong alignment in seeking to offer our customers more sustainable products with a low carbon footprint. I am pleased to welcome this entrepreneurial team to our Group. RHI Magnesita’s network will enable them to continue to build the business even more successfully on a truly global basis. Together we will continue to execute our strategy to grow through consolidation.”

Erik Zobec, Chief Executive Officer of Seven Refractories, said: “The Seven Refractories team is delighted to be joining the RHI Magnesita Group at this exciting stage in its development as the global leader in refractories. Our specialist presence in the non-basic monolithics market will be supported and driven forwards through this combination. We will continue to serve our customers with the innovative products, technology leadership and proven flexibility they have come to expect from us, whilst the additional capabilities and global presence of RHI Magnesita will deliver a step change in the breadth of products and services that we can offer to them.”

The acquisition is subject to standard closing conditions including competition authority clearance and is expected to complete in the second half of 2023.

Source: RHI Magnesita

#refractory industry #refractory products #mergers and acquisitions #sustainability #metals #cement industry #Aluminum #steel industry #Austria (AT) #Slovenia (SI) #India (IN) #United States (US) #RHI Magnesita N.V. #Energy

                     

20.07.2023

Leighton Asia to design and construct NLEX’s Candaba 3rd Viaduct project in Manila

Leighton Asia was selected by NLEX Corporation in February this year to design and construct the third bridge of the Candaba Viaduct in the north of Manila, Philippines. A groundbreaking ceremony was held to commence its construction in June, with House Speaker Ferdinand Martin Romualdez and Senior Deputy Speaker Aurelio Gonzales in attendance.  

20.07.2023

Fugro supports Curaçao’s ambition to become a regional leader in the production and export of green energy

The Government of Curaçao has asked Fugro to map the seabed of the island’s surrounding waters for future development of floating offshore wind farms. The Curaçao Government’s target is to realise 6GW in renewable energy capacity by 2035, which is more than the domestic need for energy, ultimately enabling the production and export of green hydrogen. This development is a hugely important step for Curaçao in its efforts to accelerate the transition to green energy and strengthen its economy.