Mumbai :  Dalmia-OCL, the refractories business of Dalmia Bharat Group,today announced its expansion into Europe with its first-ever international acquisition,of GSB Group GmbH – a German specialty refractory maker and a global leader in lance production, essential for good quality and clean steel production.

 

Aside from strengthening its hold in India, the takeover will provide multi-faceted benefits to Dalmia-OCL including access to customers in the heart of steel and refractory making belt in Europe, and state-of-the-art technology to make cleaner steel.It will also provide an opportunity to work with newer talent who understand and are trained in advanced steel making processes.

 

Speaking on the announcementMrSameer Nagpal, CEO, Dalmia-OCLsaid “We are delighted as this acquisition marks our group’s first major step in Europe where consolidation in the market has opened new doors for a company like ours. Dalmia-OCL’s end-to-end refractory portfolio and GSB’s access to European steel customers will make this combination a strong competitor in Europe.”

 

He further added “This acquisition will also make us one of the specialized manufacturers of refractories, for cleaner steel production, a focus area for Indian steel makers too.It will give us newer resources and talents in Europe which will help strengthen our capability in India, which is the fastest growing market for refractories in the world.”

 

Speaking on the acquisition, MrMark Runge,Managing Director, GSB Group GmbH said, “We are happy that the Dalmia Bharat Group and its refractory business have taken over the company. We built the GSB Group with a vision to service its customers in the region with world-class efficiencies and best-in-class talent. I am confident that with the experience and legacy of Dalmia this vision will only get better and move to the next level.”

 

Dalmia-OCL is India’s second-largest refractorycompany with a production capacity of 250,000 tons a year. The company expectsa revenue of 800 crore this year, 60% of which is likely to be contributed by the steel segment.