It is with great pleasure we inform you that RHI Magnesita India has completed the acquisition of the Indian refractory business of Dalmia Bharat Refractories Ltd. (DBRL). After the transfer of its Indian refractory business to Dalmia OCL Ltd. (DOCL) by DBRL, we have executed a share swap agreement with DOCL to complete the acquisition. Consequently, Dalmia OCL Ltd. stands as a 100% subsidiary of RHI Magnesita India Ltd., effective January 5, 2023.
The integration of Dalmia OCL into the existing RHI Magnesita India business will help us strengthen our position as a responsible market leader that will serve you better than ever. We will synergize and consolidate our common strengths to serve you more efficiently. Through the consolidation of DOCL’s production into RHI Magnesita’s existing operations in India, significant network optimization synergies will be captured. The integration will add almost 320,000 tons of capacity to our existing production footprint in India, particularly in various shaped and unshaped refractories. This will enable us to increasingly serve you with a ‘local-for-local’ approach and offer a broader range of products in India.
The integration will result in further improving our strong business relationship. For ease of continuing the business, we are not making any immediate changes in our Sales & Service organization. For all existing and new orders pertaining to Dalmia OCL, you may please continue to engage with the existing contacts of the company. For all existing and new orders related to RHI Magnesita, you may please continue to be in touch with our assigned personnel from Sales and Service teams of RHI Magnesita India.
You must have already received a letter of intimation from DBRL regarding the transfer of business from DBRL to DOCL and resultant changes in the banking details etc. We request your quick action on that. We are committed to make this transition smooth and comfortable for you.
We have set up a special project team to drive the integration of the people, products and processes of DOCL with the existing business of RHI Magnesita India to derive maximum synergies that will benefit you immensely with improved product and service delivery in near future. We are looking forward to establishing a revamped and invigorated Sales, Service and Support organization consisting of best of the talents from both the companies. We will update you as soon as we are ready with the new organization to serve you.
We seek your continued support as we start a fresh journey for the renewed RHI Magnesita India.
With warm regards,
Managing Director & CEO
RHI Magnesita India Ltd.