Last checked at 30 Nov 2017 11:12
RHI Magnesita included in the FTSE 250 index
Vienna, 30 November 2017 - RHI Magnesita is pleased to inform about the announcement of the company's inclusion in the FTSE 250 index. The inclusion marks an important milestone for the company and will further open up the stock to a wide audience of investors.
"The inclusion in the FTSE 250 index is another significant step towards the strategic repositioning of RHI Magnesita as the global leader in the refractory industry", said the CEO of RHI Magnesita, Stefan Borgas. "Our focus now is to complete the integration, build the business in regions and products where we don't have a significant presence, and use our combined best in class technological know-how to find new solutions for our customers."
This latest development is further proof that the repositioning efforts are effective and that the post-merger activities of RHI Magnesita are right on schedule. With €2.5 billion in pro-forma revenue in 2016, RHI Magnesita will be among the leading FTSE 250 industrial companies. The indexation will take effect from the start of trading on Monday, 18 December 2017.
About RHI Magnesita
RHI Magnesita is the result of the combination of RHI and Magnesita to form the global leading supplier of high-grade refractory products, systems and services which are indispensable for industrial high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals, and glass, among others. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves more than 10,000 customers in nearly all countries around the world.
The Company has unmatched geographic diversification with more than 14,000 employees in 35 main production sites and more than 70 sales offices. RHI Magnesita intends to use its global leadership position in terms of revenue, greater scale, complementary product portfolio and diversified geographic presence around the world to target opportunistically those countries and regions benefitting from more dynamic economic growth prospects.
The combined company had pro forma €2.5 billion in revenues in FY2016. For more information please visit www.rhimagnesita.com
Enquiries:
RHI Magnesita N.V.
Stefan Rathausky, Head of Corporate Communications
Tel +43 50213-6059
E-mail: stefan.rathausky@rhimagnesita.com