RHI Magnesita India has executed a Business Transfer Agreement (BTA) with Hi-Tech Chemicals (Hi-Tech) on October 18, 2022 for acquisition of the refractory business of Hi-Tech by way of a slump sale on a going concern basis for a cash consideration of Rs 621 crore. The object of acquisition is to strengthen and enlarge offering to enhance the Company's position in the domestic & international flow-control refractory business. The target entity operates in the same industry.
RHI Magnesita India offers a wide range of Refractory and Monolithic products for the iron and steel industry and enjoy large domestic and international clientele.
