Austrian Supplier of Refractories to Glass Industry Expands in U.S.
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RHI buys assets of Monofrax Corp. for 45 Million USD
RHI, one of the leading refractories companies in the world, will take over parts of the assets of New York based Monofrax. The takeover should enable RHI to foster its position in the U.S. market of specialty glasses, RHI announced.
Monofrax is a subsidiary of Vesuvius Crucible Company and the only producer of fused cast products in the USA, which are used primarily in the glass industry. In 2005, Monofrax reported an annual revenue of USD 45 million in the USA, Asia/Pacific and Europe. Monofrax has innovative products, important patents and exellent business relations with the most important glass producers worldwide, the RHI press statement cited.
In the growing glass market, RHI Refractories is the world's largest refractories supplier independent of the glass industry and already operates modern production facilities for fused cast products in Italy and China, as well as further production sites for refractories for the glass industry in Europe and China. RHI Refractories employs som 6,200 people worldwide. It generates annual sales revenues of EURO 1.2 billion and produces 1.7 million tons of refractory materials. RHI is listed on the Vienna Stock Exchange.
