Huber Engineered Materials’ (HEM) acquisition of RHI Magnesita’s (RHIM) 50% ownership stake in the 50/50 joint venture, MAGNIFIN Magnesiaprodukte GmbH & Co. KG, has closed, effective December 31, 2021. MAGNIFIN products are sold globally by Martinswerk GmbH as part of the HEM Fire Retardant Additives (FRA) strategic business unit, which produces a range of halogen-free fire retardants, smoke suppressants, and specialty aluminum oxides.
Based in Breitenau, Austria, MAGNIFIN has produced magnesium hydroxide (MDH) products since 1990. MAGNIFIN® coated and uncoated magnesium hydroxides are environmentally friendly, halogen-free fire retardants used in a range of polymer applications, especially thermoplastic materials and elastomers requiring high processing temperatures in excess of 300°C.
“This transition is a strong strategic fit with HEM’s mission to own and operate specialty chemical and mineral companies with market leading positions,” said Dan Krawczyk, president of Huber Engineered Materials.
“This step forward demonstrates our commitment towards our customers to support their growth and our clear strategy to grow our halogen-free fire retardant and specialty material business globally,” said Victor Dean, general manager of HEM’s FRA strategic business unit.