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Huber Signs Agreement to Acquire Remaining Stake in MAGNIFIN Joint Venture
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J.M. Huber Corporation: Huber Signs Agreement to Acquire Remaining Stake in MAGNIFIN Joint Venture
ATLANTA, May 05, 2021 (GLOBE NEWSWIRE) On May 4, J.M. Huber Corporation ( Huber ) signed a definitive agreement with RHI Magnesita ( RHIM ) to acquire their 50% ownership stake in the companies 50/50 joint venture, MAGNIFIN Magnesiaprodukte GmbH & Co. KG ( MAGNIFIN ). This transaction is expected to close in the second half of 2021, pending regulatory approvals.
Huber originally acquired its 50% ownership interest in MAGNIFIN as part of the purchase of the
Martinswerk operation from Albemarle in 2016. Located in Bergheim, Germany, Martinswerk became part of the Huber Engineered Materials (HEM) Fire Retardant Additives (FRA) strategic business unit (SBU), which produces a wide range of halogen-free products for flame retardant and smoke suppression applications and aluminum oxides.
Huber Signs Agreement to Acquire Remaining Stake in MAGNIFIN Joint Venture
ATLANTA, May 05, 2021 (GLOBE NEWSWIRE) On May 4, J.M. Huber Corporation (“Huber”) signed a definitive agreement with RHI Magnesita (“RHIM”) to acquire their 50% ownership stake in the companies’ 50/50 joint venture, MAGNIFIN Magnesiaprodukte GmbH & Co. KG (“MAGNIFIN”). This transaction is expected to close in the second half of 2021, pending regulatory approvals.
Huber originally acquired its 50% ownership interest in MAGNIFIN as part of the purchase of the
Martinswerk operation from Albemarle in 2016. Located in Bergheim, Germany, Martinswerk became part of the Huber Engineered Materials (HEM) Fire Retardant Additives (FRA) strategic business unit (SBU), which produces a wide range of halogen-free products for flame retardant and smoke suppression applications and aluminum oxides.
Huber Signs Agreement to Acquire Remaining Stake in MAGNIFIN Joint Venture
ATLANTA, May 05, 2021 (GLOBE NEWSWIRE) On May 4, J.M. Huber Corporation (“Huber”) signed a definitive agreement with RHI Magnesita (“RHIM”) to acquire their 50% ownership stake in the companies’ 50/50 joint venture, MAGNIFIN Magnesiaprodukte GmbH & Co. KG (“MAGNIFIN”). This transaction is expected to close in the second half of 2021, pending regulatory approvals.
Huber originally acquired its 50% ownership interest in MAGNIFIN as part of the purchase of the
Martinswerk operation from Albemarle in 2016. Located in Bergheim, Germany, Martinswerk became part of the Huber Engineered Materials (HEM) Fire Retardant Additives (FRA) strategic business unit (SBU), which produces a wide range of halogen-free products for flame retardant and smoke suppression applications and aluminum oxides.
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