Magnesita Refratarios SA, the world’s third largest refractories producer, is making a concerted effort to enhance its position in the industrial market sector for refractories - such as the glass, lime, cement, ceramics, and petrochemicals markets.
Flavio Barbosa, chief financial officer, Magnesita, told IM: “We are very under-represented in the industrial refractories markets, and we want to grow aggressively in this area.”
“We are very vertically integrated for raw materials for the cement refractory market [ie. dolomite, spinel], and wish to expand into other industrial sectors such as nonferrous metals, aluminium, copper, and also in petrochemicals.” Barbosa added.
The global refractory market consumption split is about 70% for steel and 30% for the industrial sector. Magnesita’s refractories business split is about 85% steel and 15% industrial.
In 2010, Magnesita’s share of revenue earned in the industrials sector increased by 7.7%, however, the...