RHI Begins to Downsize in Europe

The Austrian refractories company plans to expand in Russia. In Europe, the first factories will be shut down in two years.

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In the long term, the main production will not take place in Europe anymore, RHI´s CEO Franz Struzl explains. As a result, the production locations will shift in the future, Struzl says.

Regarding the main commodity magnesite, RHI plans to become self-sufficient in the medium term. At the end of the year, the coverage comes at 80%.

In the long term, Russia is a future market. At the moment, RHI purchases Russian commodities. In future, RHI plans to set up production locations in Russia. Also the Ukrainian market would be interesting, Struzl comments. Both countries are perceived as important steel producers in the future.

In India, RHI wants to grow further. “At the moment, we are observing the market. The same applies to the U.S.”However, RHI is cautious, Struzl explains. In the U.S., the steel production is decreasing. In the long term, own production facilities in the U.S. are essential, Struzl emphasizes. Furthermore, RHI aims to acquire further mining licenses in Serbia and Turkey.

This year, RHI will improve sales as well as earnings, RHI´s CEO says. Regarding the near future, Struzl is not concerned. The order income from steel companies has flattened slightly, Struzl says. However, demand from the industrial sector is booming, Struzl explains.

600450 RHI Begins to Downsize in Europe glassonweb.com
Date: 2 November 2012
Source: www.friedlnews.com

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