India's Dalmia-OCL refractory company (hereinafter referred to as Dalmia-OCL) expanded its business to Europe and acquired the German GSB refractory plant. The transaction is valued at 15 million euros, with some funds offset by internal income or debt.
Sameer Nagpal, president of Dalmia-OCL, said that the production areas of the German GSB refractories plant are mainly located in Bochum, Germany and Billy, India. This acquisition will make Dalmia-OCL a professional producer of refractory materials for clean steel, and clean steel has become a key development area for Indian steel production. Sameer Nagpal also said that Dalmia-OCL and Slovenia's Seven Refractory Company jointly established an advanced amorphous refractory plant in India in 2018, of which Indian companies accounted for 51% of the shares.
It is understood that Dalmia-OCL is the second largest refractory plant in India. Its annual output of refractory is about 250,000 tons. There are currently 5 branches, 4 of which are located in India and 1 in China. At present, in the Indian domestic market, Dalmia-OCL Refractories has readjusted the proportion of product investment, focusing on the production of high-performance bricks for cement kilns and refractory materials for clean steel. In order to deal with the uncertainty of magnesia raw materials, the company is also actively exploring alternative products of magnesia bricks.