RHI successfully completes sale of Engineering (ad hoc)

27. June 2002

The sale of the RHI Group’s engineering activities to Deutsche Beteiligungs AG, which was announced on June 3, 2002, was successfully completed today following the approval of the transaction by the competent anti-trust authorities.

With the sale of Engineering, RHI has realized an important step towards the group’s restructuring and concentration on the core business Refractories. The targets of the business plan, which RHI presented in the context of the capital restructuring, will not be affected by the sale. Rather, the loss of potential earnings will be than compensated by positive liquidity and risk effects.