RHI Magnesita

RHI signs share purchase agreement to acquire Indian Orient Refractories Ltd. and announces an open offer process

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Mergers - Acquisitions - Takeovers/Company Information

On January 15, 2013, a wholly-owned affiliate of RHI AG signed a share purchase
agreement to acquire 43.6% of the share capital of Orient Refractories Ltd.
(ORL). ORL is an Indian producer of special refractories and monolithics listed
on the National Stock Exchange of India as well as the Bombay Stock Exchange.
The selling shareholders that hold the largest stake of the 43.6% are the
immediate family members of S.G. Rajgarhia. The transaction price amounts to EUR
31 million (Rupees 2,3 billion). The proposed sale of shares as aforesaid is
subject to various conditions precedent including regulatory approvals.       

As a consequence of the abovementioned transaction, and based on the Securities
and Exchange Board of India Regulations, RHI's wholly-owned affiliate, acting in
concert together with RHI AG, are making an open offer to the public
shareholders for up to an additional 26% of the shares of ORL. The offer price
is 43 Rupees (EUR 0,6 ) per equity share amounting to a total of up to EUR 18,5

ORL develops and produces a wide range of special refractories and monolithic
products for the iron and steel industry for domestic and international
customers. Headquartered in New Delhi, India, ORL's manufacturing and R&D
facility is located in Bhiwadi, Rajasthan, together with eight sales offices
located throughout India. For the business year ending March 2012, ORL had
revenues of approx. EUR 44 million, an EBIT of approx. EUR 7 million. S.G.
Rajgarhia will carry on as a member of the future board of directors of ORL as
he will continue to own below 5% of the shares.  

For RHI the acquisition is key in pursuing its growth strategy focused on
emerging markets and strengthening its global market position in the flow
control business segment with special refractories and monolithics. ORL's
business is complementary to RHI's current market position with its strong
presence at the mini-mills in India. ORL's technical and service know-how as
well as its Indian production facility will further strengthen RHI's
service-oriented sales approach for the growing Indian and Asian steel industry.

Further inquiry note:
Investor Relations
Mag. Simon Kuchelbacher
Tel: +43-1-50213-6676
Email: simon.kuchelbacher@rhi-ag.com

end of announcement                               euro adhoc 

issuer:      RHI AG
             Wienerbergstrasse 9
             A-1100 Wien
phone:       +43 (0)50213-6123
FAX:         +43 (0)50213-6130
mail:     rhi@rhi-ag.com
WWW:      http://www.rhi-ag.com
sector:      Refractories
ISIN:        AT0000676903
indexes:     ATX Prime, ATX
stockmarkets: official market: Wien 
language:   English

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