Russian magnesia and refractories producer Magnezit Group has sold its German subsidiary Dalmond Feuerfest Siegburg GmbH to INTOCAST AG.
Dalmond produces roughly 40,000 tpa of monolithic refractories using magnesia supplied from Magnezit’s own operations.
“With its [Dalmond’s] focus on shaped and unshaped refractories it contributed to the successful expansion of the refractory business of Magnezit Group in Western Europe,” said Magnezit.
German-headquartered INTOCAST is a producer of monolithic refractories and has indicated that it is looking to expand on its way to listing on a stock exchange.
Dalmond, also based in Germany, has been producing since 1951 and became part of the Magnezit Group in 2007. It supplies companies in Germany, Belgium, France, as well as Russia, Ukraine, and Belarus.
Magnezit expansion strategyThere has been a lot of consolidation in the refractory industry in recent years and Magnezit is...