RHI AG Signs Non-binding Memorandum of Understanding (MOU) for Potential Acquisition in Serbia

05/11/12 - Today, RHI’s CEO Franz Struzl signed a non-bindung MOU together with representatives of the Republic of Serbia and the City of Kraljevo.

In this MOU, RHI expresses its interest to pursue an acquisition of the assets of Magnohrom d.o.o.These assets include magnesite mines and will require production capacities that need approx. 400 persons for its operations.

RHI expects the sale process to be initiated by the Serbian government by mid-year and is considering investing up to EUR 60 million for this project within the next five years.

This project is part of the strategic drive of RHI to increase its backward integration in raw materials.

600450 RHI AG Signs Non-binding Memorandum of Understanding (MOU) for Potential Acquisition in Serbia glassonweb.com
Date: 16 May 2012
Source: www.rhi-ag.com

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