Vienna-based RHI Magnesita renames its Indian arm

This marks the successful culmination of the legal and statutory proceedings of our India business consolidation process, Parmod Sagar, MD and CEO of RHI Magnesita India said.The Mumbai bench of National Company Law Tribunal NCLT sanctioned the scheme of amalgamation of the three companies through an order dated May 5, 2021.Subsequently, RHI Clasil and RHI India were merged into ORL.RHI Magnesita is going to provide customers with one single refractory solutions platform offering the industrys most comprehensive product and solutions portfolio as an end-to-end solution provider, Sagar further said.

Vienna-based RHI Magnesita on Saturday said its Indian subsidiary Orient Refractories has been renamed as RHI Magnesita India following an approval by the government.

The development follows the merger of two other Indian arms -- RHI Clasil Pvt Ltd and RHI India Pvt Ltd -- into Orient Refractories Ltd (ORL) in June 2021.

The new amalgamated public limited company under the name of RHI Magnesita India Ltd comes into effect from July 2, 2021, RHI Magnesita said in a statement.

''We received the certificate of incorporation of RHI Magnesita India Ltd from the Ministry of Corporate Affairs (MCA) yesterday (Friday). We hope to soon start trading in the exchanges and in doing business in the market under the new company name. This marks the successful culmination of the legal and statutory proceedings of our India business consolidation process,'' Parmod Sagar, MD and CEO of RHI Magnesita India said.

The Mumbai bench of National Company Law Tribunal (NCLT) sanctioned the scheme of amalgamation of the three companies through an order dated May 5, 2021.

Subsequently, RHI Clasil and RHI India were merged into ORL.

''RHI Magnesita is going to provide customers with one single refractory solutions platform offering the industry's most comprehensive product and solutions portfolio as an end-to-end solution provider,'' Sagar further said. RHI Magnesita India is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass.

The company owns and operates state-of-the-art manufacturing plants at Bhiwadi, Cuttack, Visakhapatnam and Mumbai. Besides India, the company has a customer base in more than 70 countries.