Ceramic Industry

RHI Eyes Potential Acquisition in Serbia

May 18, 2012

RHI AG recently announced its CEO Franz Struzl has signed a non-binding Memorandum of Understanding (MOU) with representatives of the Republic of Serbia and the City of Kraljevo regarding an acquisition of the assets of Magnohrom d.o.o. The assets include magnesite mines with production capacities requiring approximately 400 people for their operations.

RHI reportedly expects the sale process to be initiated by the Serbian government by mid-year. The company is considering investing up to €60 million (~ $76 million) for the project within the next five years.

For additional information, visit www.rhi-ag.com.