Huber Engineered Materials to acquire remaining stake in Magnifin joint venture
Atlanta, GA – On May 4, J.M. Huber Corporation signed a definitive agreement with RHI Magnesita to acquire its 50 percent ownership stake in the companies’ 50/50 joint venture, Magnifin Magnesiaprodukte GmbH & Co. KG. This transaction is expected to close in the second half of 2021, pending regulatory approvals.
Huber originally acquired its 50 percent 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, which produces a wide range of halogen-free products for flame retardant and smoke suppression applications and aluminum oxides.
Based in Breitenau, Austria, Magnifin has been producing and selling premium magnesium hydroxide products since 1991. Magnifin coated and uncoated magnesium hydroxides are environment friendly, non-halogenated flame retardants used in a wide range of polymer applications, especially thermoplastic materials and elastomers requiring high processing temperatures in excess of 300°C. Typical flame retardant applications include energy and LAN (local area network) data cables, automotive wire and cable, engineering thermoplastics (e.g., connectors) and construction foils.
“This transition is a strong strategic fit with HEM’s mission to own and operate specialty chemical and mineral companies with market leading positions,” says 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 business globally,” adds Victor Dean, general manager of HEM’s FRA business.