Steel Product Producers

RHI Magnesita closes on buy of Pittsburgh’s Resco Group

Written by Laura Miller

February 4, 2025

RHI Magnesita has closed on its previously announced $410 million purchase of Pittsburgh-based refractory group Resco Group.

The Vienna-based global refractory product provider said this is its most significant investment since RHI and Magnesita merged in 2017.

“The addition of Resco Group to the company’s North America operations will significantly increase local-for-local production, improving supply chain security for these critical industries that underpin the economic health of the region,” the company said.

RHI plans to upgrade and increase the capacities of Resco’s 11 plants. Resco, founded in 1946, operates seven plants and two raw material sites in the US, one plant in Canada, and another in the United Kingdom.

“Combining our expertise in refractory solutions with Resco’s strengths in the petrochemical, cement, and aluminum sectors, we aim to broaden our offerings through increased local production and improved supply chain security,” commented Craig Powel, regional president of RHI Magnesita North America.

“We are grateful for Balmoral Funds’ support during their ownership, which helped strengthen our market position, and we look forward to continuing our growth trajectory as part of RHI Magnesita’s global platform,” added Mark Essig, CEO of Resco from 2022 until the sale’s closing.

RHI Magnesita has 67 production sites, 12 recycling facilities, and more than 70 sales offices around the globe.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

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