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Austrian RHI AG announces takeover of plant in Bonnybridge, Scotland

14. January 2008

A conditional agreement has been reached with British Cookson Group plc, a leading materials science company  

RHI AG , a major player in the market for non-substitutable refractories, has reached a conditional agreement with Cookson Group plc concerning the acquisition of a plant manufacturing Carbon Bonded Ceramics (CBC) in Bonnybridge, Scotland. The plant is currently being operated by Foseco plc. Completion of the transaction is conditional, amongst other things, on receipt of anti-trust clearances in the US and Europe regarding the acquisition of Foseco by Cookson which is expected to be completed in the first half 2008.

RHI AG's core business is the production, sale and lining of non-substitutable refractory products which are indispensable for all industrial high-temperature processes. With 7,000 employees, the refractories division generates annual sales of EUR 1.3 billion and produces 1.7 million tons of refractory materials at 30 locations worldwide. RHI AG already operates one plant in Clydebank, Scotland which produces 5,000 tonnes per annum of specialist ceramics for the steel industry.