Huber Engineered Materials acquires full ownership of Magnifin

ATLANTA—Huber Engineered Materials Co. has completed the acquisition of Magnifin Magnesiaprodukte GmbH and Co., a producer of fire retardant additives based in Breitenau, Austria.

Huber Engineered Materials, a division of J.M. Huber Corp., acquired Magnifin on Dec. 31. Huber, which had been in a 50/50 joint venture with RHI Magnesita for Magnifin, purchased RHI Magnesita's 50-percent ownership stake in Magnifin to complete the transaction.

Terms were not disclosed.

"This transition is a strong strategic fit with HEM's mission to own and operate specialty chemical and mineral companies with market leading positions," said Dan Krawczyk, president of Huber Engineered Materials.

Magnifin, whose products are sold internationally by Martinswerk GmbH, has manufactured environmentally friendly magnesium hydroxide products since 1990, products that are used in thermoplastic materials and elastomers that can withstand high heat, sometimes hotter than 300° C.

Such end products include LAN data cables, automotive wire and cables and construction membranes.

Magnifin falls under the Huber Engineered Materials' Fire Retardant Additives segment, which manufactures halogen-free fire retardants, smoke suppressants and specialty aluminum oxides.

The HEM business unit has four production sites in North America and two in Europe, one of which is Magnifin.

HEM brands include Hydral, Hymod, Martinal and Micral alumina trihydrates, Magnifin, Vertex and Zerogen magnesium hydroxides and Kemgard molybdate compounds.

"This step forward demonstrates our commitment toward our customers to support their growth and our clear strategy to grow our halogen-free fire retardant and specialty material business globally," said Victor Dean, general manager of HEM's FRA strategic business unit.

J.M. Huber Corp., one of the largest family-owned businesses in the world, operates CP Kelco, Huber Engineered Materials, Huber Engineered Woods and Huber Resources Corp.