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RHI Magnesita and the Horn & Co. Group Join Forces
RHI Magnesita/AT and the Horn & Co. Group/DE announced their agreement to combine their recycling activities in Europe to increase the production, use and offering of secondary raw material for the European refractory industry targeting a substantial reduction of CO2 emissions. In the future, the newly created joint venture will operate as Horn & Co. RHIM Minerals Recovery GmbH/DE.
This partnership will position the future company at the forefront of the circular economy for customers in the steel, cement, glass and other process industries. As a result, RHI Magnesita’s ambitious plans to globally increase the recycling rate in its products from below 3 % in 2020 to more than 10 % in 2025 can be achieved earlier – marking an important step towards a targeted 15 % reduction in carbon emissions by 2025. Refractory producers such as RHI Magnesita can achieve a saving of 1,8 t of CO2 for every ton of recycled material used. At the onset, Horn & Co. RHIM Minerals Recovery GmbH will process more than 150 000 t of material per year.
“By increasing our focus in this key area, we will make a significant contribution to the global climate protection. We will conserve natural resources while at the same time expanding our business. With the combination of the recycling activities, RHI Magnesita and Horn & Co. Group become the driving force of circular economy in the refractory industry. Going forward, refractory users will benefit from increasing circular economy solutions included in our full line service contracts and customers of Horn & Co. RHIM Minerals Recovery GmbH will be able to source sustainable and high-quality raw materials,” explained Stefan Borgas, CEO of RHI Magnesita
A key feature of Horn & Co. RHIM Minerals Recovery GmbH is the strategically beneficial location of its main plants in and around Siegen in North Rhine-Westphalia, Germany, and Mitterdorf in Styria, Austria. Combined, the two sites are ideally placed to serve customers throughout Europe. RHI Magnesita and Horn & Co. Group will also support the new company to tap into new markets to continuously develop new opportunities in the field of circular economy.
Both partners have worked together for many years, with RHI Magnesita purchasing the majority of its secondary raw materials from Horn & Co Group. Thus, a close and trustful relationship has evolved over time – forming an ideal basis for a joint and sustainable future. By acquiring 51 % of the shares of the joint venture, and contributing its own recycling operations in Austria, RHI Magnesita decided to enter into a long-term partnership with the Horn & Co. Group to shape the future of recycling and secondary raw material production together. The agreement is still subject to approval by the competition authorities and regulators.
“By joining our forces, we will be able to expand our range of services and solutions and give a significant push to circular economy solutions. With the Horn & Co. Group as a distinct expert in recycling, we can accelerate our offering of sustainable services and products to our customers in all industries. Now it’s about bringing a proven business model to a larger scale and becoming the leading recycling platform in Europe and beyond” commented Stefan Borgas.
https://www.rhimagnesita.com
