On the occasion of the Company’s Full Year Results release, RHI Magnesita announces a new sustainability program and reports resilient financial performance despite a challenging market environment

 RHI Magnesita, the leading global supplier of refractory products, systems and solutions, today announces the Company’s Full Year Results for 2020. In a challenging year for the industry, RHI Magnesita increased liquidity and maintained business continuity while at the same time ensuring safe working conditions for all employees and business partners. In 2021, the Company reinforces its commitment to sustainability and accelerates plans to become a carbon neutral business.

Sustainability leadership accelerated

The Company is stepping up efforts to achieve its aspiration to become CO2 neutral. For this matter, the Group introduces a major four-year R&D program designed to expand its leading sustainability position within the refractories industry. RHI Magnesita will invest €50 million towards technology research and pilot plant constructions in the next four years, including new technology for the capture of CO2. “We are heading towards a CO2 neutral world,” said Stefan Borgas, CEO RHI Magnesita. “Our pilot projects will enable huge progress towards becoming a net zero carbon business and position RHI Magnesita as a preferred supplier for our customers who are working hard on achieving their own sustainability goals.”

About RHI Magnesita

RHI Magnesita is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass. Our purpose is to master heat, enabling global industries to build sustainable modern life. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves customers globally, with around 12,000 employees in 30 main production sites and more than 70 sales offices. RHI Magnesita pursues an innovative and industry-leading path in technological development and sustainability, including CO2 emissions reduction technology.

The Group maintains a premium listing on the Official list of the London Stock Exchange (symbol: RHIM) and is a constituent of the FTSE 250 index, with a secondary listing on the Vienna Stock Exchange (Wiener Börse). For more information please visit: www.rhimagnesita.com

Source and full announcement: rhimagnesita.com

Cover picture: rhimagnesita.com