HUBER: Additives maker to acquire remaining shares in Magnifin JV -- K Trade Fair

22/09/2021

Plastics News by Plasteurope.com

HUBER: Additives maker to acquire remaining shares in Magnifin JV

The plant in Breitenau in Styria (Photo: Huber)
Flame retardant and magnesium oxide manufacturer Magnifin Magnesiaprodukte (St. Jakob-Breitenau / Austria; www.magnifin.com) seems destined to be completely owned by Huber (Atlanta, Georgia / USA; www.huber.com). The US additives specialist recently announced plans to acquire the outstanding shares in the 50/50 joint venture from RHI Magnesita (Vienna; www.rhimagnesita.com). The transaction is expected to be completed before the end of the year, subject to regulatory approvals; no financial details were disclosed.

Huber acquired the previous Magnifin stake in 2016 with the takeover of Martinswerk (see Plasteurope.com of 08.02.2016) and added it to its own engineered materials business unit. Magnifin has been producing coated and uncoated magnesium hydroxide products at its headquarters plant since 1991, and the additives are used as halogen-free flame retardants in plastic goods with high heat resistance, such as cables and connectors.

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