Refractory concrete maker acquired in reported €93m deal

Seven Refractories, the Divača-based maker of refractory concrete and plugs for blast furnaces, will get a new owner in RHI Magnesita, the Austrian producer of refractory materials, in a deal reportedly valued at €93 million.

RHI Magnesita, which last year generated €3.3 billion in revenue and €167 million in net profit at the group level, is buying Seven Refractories business in the parent factory in Divača and in factories in India and the US.

The sales offices and service centres in Cyprus, Germany, Italy and the UK are also part of the deal.

Announcing the deal, RHI...