RHI AG completed its acquisition of two refractories plants, which were previously operated by Foseco plc, from the Cookson Group plc on April 16, 2008.
The acquisition of two isostatically pressed ceramic refractory products (ISO) plants in Scotland (Bonnybridge) and the U.S. (Saybrook) by RHI AG was completed successfully on April 16, 2008, following the approval by the European and U.S. anti-trust authorities. RHI takes over the two plants, which were previously operated by Foseco plc, from the Cookson Group plc, the new owner of Foseco. The parties agreed to keep the purchase price confidential.
The business unit will be fully integrated into RHI’s ISO business and ideally complements RHI’s portfolio in terms of product range and regional market penetration. ISO products ensure the safe and controlled oxidation-proof transfer of liquid steel in the continuous casting plant from the steel ladle through the tundish to the mold.
RHI’s ISO segment will comprise the plants in Saybrook (U.S.), Clydebank and Bonnybridge (Scotland), Dalian (China) and Trieben (Austria). The worldwide production and service network provides optimal service for customers in all regions.
With this acquisition, RHI takes over additional ISO expertise as well as the trademark rights and patents of the renowned Deltek product brand. Following the integration of Deltek, RHI will double its revenue from the ISO business.
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