RHI Magnesita reported a joint-venture with Horn & Co. to accelerate RHI Magensita’s use of secondary raw materials in its refractory products.
The joint-venture is projected to process an estimated 150 kilo-tonnes per annum (ktpa) of material under the name Horn & Co. RHIM Minerals Recovery GmbH.
RHI Magnesita is set to hold a 51% stake in the venture and will combine recycling facilities owned by Horn & Co across Siegen, North Rhine-Westphalia in Germany and at RHI Magnesita’s Mitterdorf plant based in Stryria, Austria.
RHI Magensita will reportedly benefit from access to additional quantities of secondary raw material and increase productivity in its recycling process with its use of automated sorting and processing equipment.
The joint-venture is set to ramp up the company’s aim to use secondary raw material in 10% of its raw material consumption.
“Through the combination of our recycling activities, RHI Magnesita and Horn & Co. Group will become the driving force of the circular economy in the refractory industry,” said RHI Magnesita CEO Stefan Borgas.
“Our customers will benefit from access to greater quantities of sustainable and high quality raw materials, together with enhanced circular economy solutions which are included as part of our full line services contracts.”
RHI Magnesita saw its share price increase 1% to 2,526p in morning trading on Monday.