RHI Magnesita and the Horn & Co. Group have combined their recycling activities in Europe to increase the production, use and offering of secondary raw material for the European refractory industry targeting a substantial reduction of CO2 emissions. In the future, the newly created joint venture will operate as Horn & Co. RHIM Minerals Recovery GmbH.
This partnership will position the future company at the forefront of the circular economy for customers in the steel, cement, glass and other process industries. As a result, RHI Magnesita’s ambitious plans to globally increase the recycling rate in its products from below three percent in 2020 to more than 10 percent in 2025 can be achieved earlier – marking an important step towards a targeted 15 percent reduction in carbon emissions by 2025.
The competition law team of CERHA HEMPEL advising on the merger control aspects of transaction in Austria consisted of Anna Wolf-Posch (Partner, Antitrust & Competition, Austria), Michael Mayer (Counsel, Antitrust & Competition) and Zakar Stepanyan (Associate, Antitrust & Competition, Austria). Clifford Chance Germany (Ulrich Pfeffer & Dimitri Slobodenjuk) acted as German Counsel for RHI Magnesita GmbH, Oppenhoff (Daniel Dohrn) acted as Counsel for the Horn & Co. Group.