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RHI Magnesita
RHI Magnesita, led by Stefan Borgas, is the world's largest refractory supplier headquartered in Vienna, Austria.
RHI Magnesita
RHI Magnesita was formed in 2017 through the merger of RHI AG and Magnesita Refratários, creating a global leader in refractories—heat-resistant materials essential for high-temperature industrial processes. CEO Stefan Borgas has led the combined entity since the merger, integrating operations across Europe, the Americas, and Asia. The group's core business involves mining magnesite and producing refractory products, which are sold to steelmakers, cement producers, and glass manufacturers. RHI Magnesita operates diversified production sites in Austria, Brazil, China, and other jurisdictions, supported by a global distribution network. Recent strategic moves have included expanding capacity in China and strengthening supply chains through vertical integration into raw materials. With over 13,000 employees and revenue exceeding €3 billion annually (per public filings), RHI Magnesita is governed by a publicly listed structure on the London Stock Exchange. The company sustains its operations through reinvestment in mining assets, production technology, and geographically dispersed facilities. The board includes representatives connected to founding families, though the modern corporate governance structure separates family interests from daily management. A structural differentiator is RHI Magnesita's vertical integration: the firm controls its own magnesite mines, giving it cost and supply advantages over peers reliant on third-party raw materials. This integration, combined with a global distribution network, creates barriers to entry in the refractory industry.
General information
Firm type
Single Family Office
Year founded
—
AUM
Undisclosed
Location
Region
Europe
Country
Austria
City
Vienna
Corporate office
Vienna, Austria
Principals
Stefan Borgas
Chief Executive Officer
Peter Zehetner
Chief Financial Officer
Sector focus
Frequently asked questions
Who runs investment decisions at RHI Magnesita?
CEO Stefan Borgas and CFO Peter Zehetner lead the executive board, which oversees capital allocation. Decisions on expansion, acquisitions, and dividends are subject to approval by the supervisory board and board of directors.
Does RHI Magnesita operate as a family office or as a corporation?
RHI Magnesita is a publicly traded corporation on the London Stock Exchange, not a traditional family office. However, founding-family interests remain represented on the board, and the firm's steady industrial cash flows serve as a capital base for long-term investments, akin to a family office in structure.
What investment stages does RHI Magnesita typically target?
The firm focuses on organic capital expenditures in mining and production capacity, alongside bolt-on acquisitions in the refractory and adjacent materials sectors. It does not typically engage in venture-stage or early-stage investments.
Which sectors does RHI Magnesita explicitly avoid?
The firm is concentrated on refractories and industrial materials for steel, cement, glass, and non-ferrous metals. It does not invest in financial assets, technology startups, or consumer markets.
How is RHI Magnesita related to its founding families?
The company was formed by merging RHI AG, which traced roots to Austrian industrial families, and Magnesita, a Brazilian refractory producer. While the firm is now publicly traded, family representatives hold seats on the supervisory board, preserving continuity.
Where does the underlying wealth come from?
Wealth originates from the refractory and mining industries. The founding families accumulated capital through the production and sale of heat-resistant materials to heavy industry over decades.
Does RHI Magnesita maintain philanthropic structures?
The company operates a corporate social responsibility program focusing on environmental sustainability and community engagement in mining regions. No separate family foundation has been publicly identified.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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