RHI Magnesita set for Indian consolidation

RHI Magnesita is now in the final stages of consolidating its three Indian arms to become the largest refractory company in the country, with approval from the National Company Law Tribunal (NCLT) expected within a week, according to The Economic Times.

The three companies, Orient Refractories, RHI Clasil and RHI India, would all become RHI Magnesita India. "We are in the final stages of consolidating our three arms in India into a single entity. We hope to get the interim approval within a week. Thereafter, it is likely to take another two months to complete the process by November this year," said Parmod Sagar, CEO of the company’s Indian operations.