{"id":45991,"date":"2021-05-05T16:08:14","date_gmt":"2021-05-05T16:08:14","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=73305"},"modified":"2021-05-05T16:08:14","modified_gmt":"2021-05-05T16:08:14","slug":"huber-signs-agreement-to-acquire-remaining-stake-in-magnifin-joint-venture","status":"publish","type":"post","link":"https:\/\/kuwaitnewsgazette.com\/huber-signs-agreement-to-acquire-remaining-stake-in-magnifin-joint-venture\/","title":{"rendered":"Huber Signs Agreement to Acquire Remaining Stake in MAGNIFIN Joint Venture"},"content":{"rendered":"

ATLANTA, May 05, 2021 (GLOBE NEWSWIRE) — On May 4, J.M. Huber Corporation (\u201cHuber\u201d) signed a definitive agreement with RHI Magnesita (\u201cRHIM\u201d) to acquire their 50% ownership stake in the companies\u2019 50\/50 joint venture, MAGNIFIN Magnesiaprodukte GmbH & Co. KG (\u201cMAGNIFIN\u201d). This transaction is expected to close in the second half of 2021, pending regulatory approvals.<\/p>\n

Huber originally acquired its 50% ownership interest in MAGNIFIN as part of the purchase of the\u00a0Martinswerk operation from Albemarle in 2016<\/strong><\/a>. 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.<\/p>\n

Based in Breitenau, Austria, MAGNIFIN has been producing and selling premium magnesium hydroxide (MDH) products since 1991. MAGNIFIN\u00ae<\/sup>\u00a0coated 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 \u00b0C. 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.<\/p>\n

\u201cThis transition is a strong strategic fit with HEM\u2019s mission to own and operate specialty chemical and mineral companies with market leading positions,\u201d says Dan Krawczyk, President of Huber Engineered Materials.<\/p>\n

\u201cThis 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,\u201d adds Victor Dean, General Manager of HEM\u2019s FRA Business.<\/p>\n

About Huber Engineered Materials<\/strong>
\nHuber Engineered Materials (HEM), headquartered in Atlanta, Georgia (US), is a global leader in the production of fine precipitated alumina trihydrate and magnesium hydroxide, both non-halogenated fire retardants. Its FRA business unit has four manufacturing sites in North America and two in Europe, one of which is the MAGNIFIN plant.<\/p>\n

HEM has been a trusted supplier of halogen-free fire retardants and smoke suppressants for almost 40 years, manufacturing a large portfolio of value-added Hydral\u00ae<\/sup>, Hymod\u00ae<\/sup>, Martinal\u00ae<\/sup>\u00a0and Micral\u00ae<\/sup>\u00a0alumina trihydrates; MAGNIFIN\u00ae<\/sup>, Vertex\u00ae<\/sup>\u00a0and Zerogen\u00ae<\/sup>\u00a0magnesium hydroxides; and Kemgard\u00ae<\/sup>\u00a0molybdate compounds for a variety of end-use applications, including reinforced polyester molding and pultrusion, engineering thermoplastics, roofing, silicone rubber, wire and cable, coatings and carpet backing. In addition, Huber produces Martoxid\u00ae<\/sup>\u00a0calcined aluminum oxides, Compalox\u00ae<\/sup>\u00a0specialty oxides and Pergopak\u00ae<\/sup>\u00a0carriers and matting agents.<\/p>\n

HEM is focused on engineered specialty chemical and minerals that enhance the performance, appeal and processing of a broad range of products used in industrial, agricultural and consumer applications and also has a portfolio of high value agricultural nutrients and adjuvants and industrial, food and USP grade calcium carbonate products. For more information, visit\u00a0www.hubermaterials.com<\/u><\/strong><\/a>.<\/p>\n

About J.M. Huber Corporation<\/strong>
\nJ.M. Huber Corporation, headquartered in Atlanta, Georgia (US), operates a diverse portfolio of companies: CP Kelco, Huber Engineered Materials, Huber Engineered Woods and Huber Resources Corp. With locations around the world, our businesses create products used in a broad range of applications including personal care, food and beverage, agricultural nutrients and adjuvants, building materials, flame retardants and smoke suppressants, as well as sustainable forestry services. Founded in 1883, Huber is one of the largest family-owned companies based in the US. For more information, visit\u00a0www.huber.com<\/u><\/strong><\/a>.<\/p>\n

MEDIA CONTACT:<\/u><\/strong>
\nLea Volpe
\nDirector, Corporate Communications
\nJ.M. Huber Corporation
\n678.247.7128 phone
\nlea.volpe@huber.com<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

ATLANTA, May 05, 2021 (GLOBE NEWSWIRE) \u2014 On May 4, J.M. Huber Corporation (\u201cHuber\u201d) signed a definitive agreement with RHI Magnesita (\u201cRHIM\u201d) to acquire their 50% ownership stake in the companies\u2019 50\/50 joint venture, MAGNIFIN Magnesiaprodukte GmbH & Co. KG (\u201cMAGNIFIN\u201d). This transaction is expected to close in the second half of 2021, pending regulatory [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"yoast_head":"\nHuber Signs Agreement to Acquire Remaining Stake in MAGNIFIN Joint Venture - Kuwait News Gazette<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kuwaitnewsgazette.com\/huber-signs-agreement-to-acquire-remaining-stake-in-magnifin-joint-venture\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Huber Signs Agreement to Acquire Remaining Stake in MAGNIFIN Joint Venture - Kuwait News Gazette\" \/>\n<meta property=\"og:description\" content=\"ATLANTA, May 05, 2021 (GLOBE NEWSWIRE) \u2014 On May 4, J.M. 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