Siobhan Lismore, Mike O’Driscoll
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Hot-rolled steel at ThyssenKrupp’s Duisberg facility.
ThyssenKrupp |
Brazil’s Magnesita Refratarios SA has secured a significant foothold in the European refractories market after the group signed a deal with German steel producer ThyssenKrupp to supply three of the company’s plants.
Magnesita, which dominates the Brazilian market, said the deal had “attacked” leading refractories group RHI, headquartered in Austria.
A spokesman for the company said that the move to look to Europe came as RHI appeared to be increasing its activity in Brazil. In December 2010 the Vienna-based group purchased 980,000m2 of land in Rio de Janeiro to build a new production facility....