Huber Signs Agreement to Acquire Remaining Stake in MAGNIFIN Joint Venture
ATLANTA, May 05, 2021 (GLOBE NEWSWIRE) -- On May 4, J.M. Huber Corporation (“Huber”) signed a definitive agreement with RHI Magnesita (“RHIM”) to acquire their 50% ownership stake in the companies’ 50/50 joint venture, MAGNIFIN Magnesiaprodukte GmbH & Co. KG (“MAGNIFIN”). This transaction is expected to close in the second half of 2021, pending regulatory approvals.
Huber originally acquired its 50% ownership interest in MAGNIFIN as part of the purchase of the Martinswerk operation from Albemarle in 2016. 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.
Based in Breitenau, Austria, MAGNIFIN has been producing and selling premium magnesium hydroxide (MDH) products since 1991. MAGNIFIN® coated 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 °C. 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.
“This transition is a strong strategic fit with HEM’s mission to own and operate specialty chemical and mineral companies with market leading positions,” says Dan Krawczyk, President of Huber Engineered Materials.
“This 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,” adds Victor Dean, General Manager of HEM’s FRA Business.
About Huber Engineered Materials
Huber 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.
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®, Hymod®, Martinal® and Micral® alumina trihydrates; MAGNIFIN®, Vertex® and Zerogen® magnesium hydroxides; and Kemgard® molybdate 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® calcined aluminum oxides, Compalox® specialty oxides and Pergopak® carriers and matting agents.
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 www.hubermaterials.com.
About J.M. Huber Corporation
J.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 www.huber.com.
Director, Corporate Communications
J.M. Huber Corporation
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
algoWatt and Italeaf sign the Recovery Agreement with the Sole Representative of the Bondholders22.6.2021 19:46:02 CEST | Press release
algoWatt and Italeaf sign the Recovery Agreement with the Sole Representative of the Bondholders algoWatt S.p.A., GreenTech Solutions Company listed on the MTA market of Borsa Italiana, announces that, today, Mr. Stefano Neri, as Chairman of the Board of Directors and legal representative of algoWatt, duly authorised by virtue of the resolution adopted by the Board of Directors on 21 June 2021, and Ms. Monica Federici, as Managing Director and legal representative of the parent company Italeaf S.p.A., duly authorized by a resolution of the Board of Directors on 21 June, and Mr. Marzio Molinari, as sole representative of the subscribers of the bond called "Algowatt Tv Eur6m+1.5 Dc27 Amort Eur", listed on the ExtraMOT PRO market, organized and managed by Borsa Italiana S.p.A., duly authorised by virtue of the resolution passed by the Bondholders' Meeting on 30 April 2021 and in compliance with the provisions of the pactum de non petendo signed inter partes on 22 December 2020, on the oth
Supersapiens Powered by Abbott’s Libre Sense Glucose Sport Biosensor Announces Garmin Integration22.6.2021 16:30:00 CEST | Press release
New Connect IQ app gives athletes timely glucose levels on their bike computer and wrist, allowing for real-time adjustments to sustain peak performance Atlanta, GA, USA, June 22, 2021 (GLOBE NEWSWIRE) -- Supersapiens, powered by Abbott’s Libre Sense Glucose Sport Biosensor, is announcing its initial integration of the Supersapiens Connect IQ app with Garmin®. The Supersapiens training ecosystem empowers athletes to optimize fueling, maximize training, and increase performance gains. The integration will provide select users with a compatible Garmin smartwatch or Edge® cycling computer with real-time glucose visibility allowing them to go faster longer. The Supersapiens app can be downloaded now from the Connect IQ™ store. A partnership with global healthcare leader Abbott makes Supersapiens the only energy management ecosystem that directly integrates with a Bluetooth-enabled sports continuous glucose monitor (CGM) — the Abbott Libre Sense Glucose Sport Biosensor. Supersapiens offers
Painter 2022: Must-Have Upgrade for Professional Artists Delivers a Faster, More Powerful Digital Painting Experience22.6.2021 15:01:00 CEST | Press release
Offering unprecedented performance, a streamlined workflow, and improved layer productivity, Painter 2022 makes it easier than ever for artists to create exceptional work OTTAWA, June 22, 2021 (GLOBE NEWSWIRE) -- Painter 2022 responds to users’ top requests and delivers a must-have upgrade by expanding creative possibilities. Designed for Windows 10 and macOS, this powerful and creative digital painting software adds enhancements that focus on accelerating workflows, boosting brush performance, and improving layer productivity to offer a game-changing digital art studio for today’s professional and aspiring artists. “We know the critical role Painter plays in professional artists’ workflows and are honored to be part of the creative process of bringing some of pop culture's most iconic movies, characters and games to life,” said Chris Pierce, Director of Product for Photo and Digital Arts at Corel. “With this version we focused on our customers’ top requests and whether it’s improvemen
IMCD N.V. shareholders adopt all resolutions at AGM22.6.2021 13:55:00 CEST | Press release
ROTTERDAM, The Netherlands (22 June 2021) – IMCD N.V. (hereafter “IMCD” or the “Company”) announces that all resolutions proposed to the shareholders at the Company’s Annual General Meeting (“AGM”) held today were adopted. This includes the adoption of the financial statements for the year 2020 and approval of the dividend proposal of EUR 1.02 per share in cash. The dividend calendar is as follows: Thursday 24 June 2021 - Ex-dividend date Friday 25 June 2021 - Record date Monday 28 June 2021 - Payment date Further resolutions included the reappointment of Deloitte Accountants B.V. as external auditor for the year 2021. The 2020 Remuneration Report received a positive advisory vote with over 94% of voted casted in favor of the report. Details of the Annual General Meeting, including the voting results, are available at IMCD’s corporate website. Attached, please find the press release in pdf format. Attachment PR_IMCD 2021 AGM resolutions
About making of a mandatory share buy-back offer22.6.2021 13:25:00 CEST | Press release
Joint stock company “Olainfarm”, hereinafter referred to as - “the Company”, hereby informs that on the 22nd of June, 2021 Joint stock company “AS “AB CITY””, registration number 40203174414, according to the clause 1 of the article 73 of the Financial Instrument Market Law, informed the Board of the Company about making of a mandatory share buy-back offer. The Board of the joint stock company “Olainfarm” will prepare conclusion and announce its opinion about the offer within terms set by the Financial Instrument Market Law after an advertisement regarding making of a share buy-back offer is published. Additional information: Jānis Dubrovskis Investor Relations Advisor of JSC Olainfarm Phone: +371 29178878 Email: firstname.lastname@example.org
Verisk’s AIR Updates Its Terrorism Model to More Comprehensively Model Damage from Conventional Bomb Blast Attacks22.6.2021 12:11:00 CEST | Press release
BOSTON, June 22, 2021 (GLOBE NEWSWIRE) -- Catastrophe modeling firm AIR Worldwide announced that it has updated its Terrorism Model for the United States to more comprehensively model the extent of damage from conventional bomb blast attacks. Starting with the size and location of the bomb, the model propagates the appropriate blast intensity within a built environment from the exterior to the interior of buildings to yield damage and loss estimates, including property damage and workers’ compensation, and personal injury. AIR Worldwide is a Verisk (Nasdaq:VRSK) business. “When terrorists use conventional weapons—the effects of which tend to be highly localized—they are likely to be targeting specific buildings or facilities,” said Tao Lai, vice president, research, AIR Worldwide. “The amount of damage that occurs at or near the site of an attack depends on a wide variety of factors. In addition to the type of weapon used, the surrounding buildings, building dimensions and blast intens
RESULT OF RIKSBANK REVERSED AUCTIONS KOMMUNINVEST BONDS22.6.2021 11:07:00 CEST | Press release
RESULT OF RIKSBANK REVERSED AUCTIONS KOMMUNINVEST BONDS Auction date2021-06-22Loan2311 Coupon1.00 %ISIN-codeSE0010948240Maturity2023-11-13 Tendered volume, SEK mln500 +/- 250 Volume offered, SEK mln2,020Volume bought, SEK mln500Number of bids6Number of accepted bids2Average yield0.034 %Lowest accepted yield0.033 %Highest yield0.034 %% accepted at lowest yield 56.82 Auction date2021-06-22 Loan2505 Coupon1.00 %ISIN-codeSE0011414010Maturity2025-05-12 Tendered volume, SEK mln1,000 +/- 500 Volume offered, SEK mln3,000Volume bought, SEK mln1,000Number of bids8Number of accepted bids1Average yield0.219 %Lowest accepted yield0.219 %Highest yield0.219 %% accepted at lowest yield 100.00 Auction date2021-06-22 Loan2805 Coupon0.75 %ISIN-codeSE0015660139Maturity2028-05-12 Tendered volume, SEK mln750 +/- 350 Volume offered, SEK mln1,000Volume bought, SEK mln750Number of bids3Number of accepted bids1Average yield0.623 %Lowest accepted yield0.623 %Highest yield0.623 %% accepted at lowest yield 100.00