RHI today signed a contract to acquire Premier Periclase Ltd., Ireland (“PPL”). The purchasing price amounts to EUR 21 million; the closing took place with effect of today.
PPL is one of the worldwide suppliers of seawater-based large crystal sinter and, with 110 employees, produces roughly 70,000 metric tons of sintered magnesia annually in the north of Dublin.
In addition, the closing of the acquisition of SMA Mineral Magnesia AS, Norway, took place today.
With the capacity expansion in Turkey and the acquisition of SMA and PPL RHI is going to increase its self-sufficiency in magnesia raw materials up to approx. 80% by mid-2012.