Oct. 22, 2022 - RHI Magnesita India Limited has acquired the refractory business of Hi-Tech for ₹621 crore. RHI Magnesita India Ltd is a leading global supplier of high-grade refractory products used by major industries, including steel, cement, non-ferrous metals and glass. The brand will strengthen and enlarge its offering to enhance the company’s position in the domestic and international flow-control refractory business. 

Parmod Sagar, MD and CEO of RHI Magnesita India says, “This acquisition is pursuant to our strategic inorganic growth strategy in India. It testifies to our strong commitment to increasing our production footprint in India to serve our customers more efficiently”. Hi-Tech’s refractory business is present in India and six other countries across Europe, Africa and Asia.