LONDON (ShareCast) - (Sharecast News) - RHI Magnesita said on Tuesday that it has bought P-D Refractories for around €45m.

P-D Refractories is a producer of high-quality alumina-based refractories for industrial applications in process industries, with a leading market position in the glass and aluminium sectors, RHI said.

Previously part of the Preiss-Daimler Group, the assets bought include refractory plants in Germany and Czech Republic and clay, quartzite and silica raw material sites in Czech Republic and Slovenia.

Chief executive Stefan Borgas said: "The production capabilities and vertical integration of P-D Refractories, combined with RHI Magnesita's know-how and renowned R&D capabilities, will complement our product portfolio and enlarge our production footprint and sales channels on a global scale.

"This acquisition is our sixth transaction to close in the year to date and marks a major milestone for both companies in the process industries sector. Together we look forward to expanding our footprint and strengthening our market presence by offering high-grade refractory products and solutions to an enlarged customer base."

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