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RHI refractories doubles profit

03 August 2010

by Mark Watts

Austrian group’s second quarter results driven by recovery in global steel markets

Keywords: RHI, refractories, magnesia, glass, cement, steel

Leading refractories producer RHI AG more than doubled profits in Q2 2010 driven by a recovery in demand from the global steel industry, but construction-related markets remained stagnant.The Austrian group reported an operating profit of €40.8m. ($53.9m.) compared with €17m. in the same period last year, while sales rose 38% to €398.5m.By volume, RHI sold 42% more material at 450,000 tonnes, compared with 318,000 tonnes...