RHI Magnesita: Premier Periclase Ltd. and RHI Normag
Wednesday, March 10, 2021
RHI Magnesita, the leading global refractory supplier and Callista Private Equity GmbH successfully completed the sale of the following two legal entities: Norwegian RHI Normag AS, located in Porsgrunn, and Irish Premier Periclase, located in Drogheda, both of which predominantly produce magnesia based products for the fertilizer, animal feed, hydrometallurgical, pulp and paper, environmental and refractory industries.
Effective 1 February 2021, the companies were transferred into ownership of Callista. RHI Magnesita explains the selling decision with its ongoing global network optimization. Callista is specialized on the acquisition of non-core group assets and the subsequent optimization of the companies on a standalone basis. In other comparable carve-out situations, Callista proved its capability to develop integrated entities into successful standalone companies. As the new shareholder, Callista will pave the way for increasing the competitiveness as well as for a sustainable and successful expansion. In this context, Callista’s team will support the company in essential organizational and strategic projects, while the companies’ management teams will remain responsible for the daily operational business.