Latest news with #jointVenture
National Post
27-06-2025
- Business
- National Post
RHI Magnesita and BPI, Inc. Announce Strategic Joint Venture to Accelerate Circular Economy Initiatives in North America
Article content TAMPA, Fla. — RHI Magnesita, the leading global supplier of high-grade refractory products, systems, and solutions, and BPI, Inc., a renowned US based leader in minerals processing, including refractory raw materials and specialty products, are pleased to announce a transformative joint venture to expand circular economy initiatives and accelerate sustainability across North America. Article content The strategic partnership combines RHI Magnesita's (RHIM) global refractory expertise with BPI, Inc.'s (BPI) robust US infrastructure, local sourcing, and technical processing capabilities. This collaboration is set to create a powerful platform for innovation in circular raw material processing and recycling. It aims to significantly enhance the sustainability of the refractory industry, which is essential to the production processes for cement, steel, aluminum, and many other industrial producers in the North America region. Article content Key Highlights of the Joint Venture: Article content Proximity to customers: with a combined 20 plant locations across PA, OH, MO, NC, AL, CA, IN, OK, and Canada, RHI Magnesita and BPI are strategically positioned close to customers, allowing for the delivery of locally sourced products and solutions, effectively shortening supply chains. Enhanced portfolio: the combined companies possess technical and analytical services, expanded access to high-quality domestically sourced circular raw materials, and expert sales teams who offer customized solutions, from raw materials to finished goods. Innovation & sustainability: advanced, in-house R&D teams will collaborate to explore and develop state-of-the-art solutions that will improve safety, endurance, and efficiency, while decreasing the collective carbon footprint. Article content The newly announced partnership represents an innovative move toward enhancing sustainable refractory solutions while also providing a strategic platform for the sourcing of domestic refractory raw materials in North America. Article content 'This joint venture is more than a partnership; it's a bold step toward redefining industry standards for sustainable sourcing and material recovery,' said Craig Powell, Regional President, North America, RHI Magnesita. 'We are excited about the future and look forward to supporting our customers with expanded capabilities that will forge new solutions for safety and efficiency while reducing environmental impact.' Article content Joe Quigley, BPI President, also shared, 'At BPI, we are committed to providing high-quality mineral products. Partnering with RHIM will expand our portfolio and enhance our efforts to offer circular solutions. We are excited about the progress our combined companies will achieve for a better future.' Article content The joint venture is subject to customary closing conditions and is expected to be completed in H2 2025. Article content About RHI Magnesita Article content RHI Magnesita is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves customers around the world, with over 20,000 employees in 65 main production sites (including raw material sites), 12 recycling facilities and more than 70 sales offices. RHI Magnesita intends to leverage its leadership in terms of revenue, scale, product portfolio and diversified geographic presence to target strategically those countries and regions benefiting from more dynamic economic growth prospects. Article content The Group is listed within the Equity Shares (Commercial Companies) category ('ESCC') of the Official List of the London Stock Exchange (symbol: RHIM) and is a constituent of the FTSE 250 index, with a secondary listing on the Vienna Stock Exchange (Wiener Börse). For more information please visit: About BPI, Inc. BPI, Inc. is an U.S.-based leader in mineral processing, including refractory raw materials and specialty mineral products, serving the steel, foundry, aluminum, and cement industries. With advanced processing facilities and a strong focus on sustainability, BPI, Inc. is at the forefront of innovation in material recovery and recycling and is a trusted partner to its customers. BPI operates 7 recycling facilities, 1 office and in-house R&D lab across 5 states, including PA, OH, AL, IN, and OK with approximately 100 employees. Article content Article content Article content Article content Media Article content : Article content Article content Ryan Kirby Article content Article content Article content
Yahoo
27-06-2025
- Business
- Yahoo
RHI Magnesita and BPI, Inc. Announce Strategic Joint Venture to Accelerate Circular Economy Initiatives in North America
TAMPA, Fla., June 27, 2025--(BUSINESS WIRE)--RHI Magnesita, the leading global supplier of high-grade refractory products, systems, and solutions, and BPI, Inc., a renowned US based leader in minerals processing, including refractory raw materials and specialty products, are pleased to announce a transformative joint venture to expand circular economy initiatives and accelerate sustainability across North America. The strategic partnership combines RHI Magnesita's (RHIM) global refractory expertise with BPI, Inc.'s (BPI) robust US infrastructure, local sourcing, and technical processing capabilities. This collaboration is set to create a powerful platform for innovation in circular raw material processing and recycling. It aims to significantly enhance the sustainability of the refractory industry, which is essential to the production processes for cement, steel, aluminum, and many other industrial producers in the North America region. Key Highlights of the Joint Venture: Proximity to customers: with a combined 20 plant locations across PA, OH, MO, NC, AL, CA, IN, OK, and Canada, RHI Magnesita and BPI are strategically positioned close to customers, allowing for the delivery of locally sourced products and solutions, effectively shortening supply chains. Enhanced portfolio: the combined companies possess technical and analytical services, expanded access to high-quality domestically sourced circular raw materials, and expert sales teams who offer customized solutions, from raw materials to finished goods. Innovation & sustainability: advanced, in-house R&D teams will collaborate to explore and develop state-of-the-art solutions that will improve safety, endurance, and efficiency, while decreasing the collective carbon footprint. The newly announced partnership represents an innovative move toward enhancing sustainable refractory solutions while also providing a strategic platform for the sourcing of domestic refractory raw materials in North America. "This joint venture is more than a partnership; it's a bold step toward redefining industry standards for sustainable sourcing and material recovery," said Craig Powell, Regional President, North America, RHI Magnesita. "We are excited about the future and look forward to supporting our customers with expanded capabilities that will forge new solutions for safety and efficiency while reducing environmental impact." Joe Quigley, BPI President, also shared, "At BPI, we are committed to providing high-quality mineral products. Partnering with RHIM will expand our portfolio and enhance our efforts to offer circular solutions. We are excited about the progress our combined companies will achieve for a better future." The joint venture is subject to customary closing conditions and is expected to be completed in H2 2025. About RHI Magnesita RHI Magnesita is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves customers around the world, with over 20,000 employees in 65 main production sites (including raw material sites), 12 recycling facilities and more than 70 sales offices. RHI Magnesita intends to leverage its leadership in terms of revenue, scale, product portfolio and diversified geographic presence to target strategically those countries and regions benefiting from more dynamic economic growth prospects. The Group is listed within the Equity Shares (Commercial Companies) category ("ESCC") of the Official List of the London Stock Exchange (symbol: RHIM) and is a constituent of the FTSE 250 index, with a secondary listing on the Vienna Stock Exchange (Wiener Börse). For more information please visit: About BPI, Inc. BPI, Inc. is an U.S.-based leader in mineral processing, including refractory raw materials and specialty mineral products, serving the steel, foundry, aluminum, and cement industries. With advanced processing facilities and a strong focus on sustainability, BPI, Inc. is at the forefront of innovation in material recovery and recycling and is a trusted partner to its customers. BPI operates 7 recycling facilities, 1 office and in-house R&D lab across 5 states, including PA, OH, AL, IN, and OK with approximately 100 employees. View source version on Contacts Media:Ryan KirbyTel 908-499-9121E-mail: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Argaam
22-06-2025
- Business
- Argaam
GAS, Italy's Bonomi sign JV to build Saudi valve plant
Gas Arabian Services Co. (GAS) signed a joint venture (JV) agreement with Italy's Bonomi Co. on June 21 to establish a valve manufacturing limited liability company (LLC) under the name 'Bonomi Saudi Arabia Factory LLC,' according to a statement to Tadawul. The new entity will be based in Saudi Arabia and initially capitalized at SAR 5 million. Bonomi will hold a 60% stake, while GAS will own the remaining 40%. GAS said it will finance its SAR 2 million share of the investment from its own resources. The company expects the JV to have a positive long-term financial impact. The establishment of the new entity remains subject to regulatory approvals and the fulfillment of conditions outlined in the partnership agreement.
Times of Oman
21-06-2025
- Business
- Times of Oman
Saudi Arabia and UAE likely to import electricity from India
New Delhi: Saudi Arabia and the UAE are likely to import electricity through undersea cables from India. The 1,700km subsea cable to Saudi Arabia will cost INR470 billion ($5.5 billion), whereas the 1,400km cable to the UAE will cost INR435 billion, India's power minister Manohar Lal Khattar said. New Delhi will export 2 gigawatts (GW) each to Saudi Arabia and the UAE, he said. "We have already signed joint venture agreements with Saudi Arabia and UAE for these projects. The power transmission link with Saudi Arabia will cost 47,000 crore while those for UAE will cost 43,000 crores, he said. The two transmission projects, part of the government's focus on boosting electricity exports, will have capacity of carrying 2 Gigawatt electricity each.
Globe and Mail
16-06-2025
- Business
- Globe and Mail
Mag Mile Capital Secures $10.25 Million in Joint Venture Equity for Chicago Office-to-Multifamily Conversion Project
Chicago, Illinois, June 16, 2025 (GLOBE NEWSWIRE) -- Mag Mile Capital, Inc. (OTCQB: MMCP) ("Mag Mile", or the "Company") is pleased to announce the successful arrangement of $10.25 million in joint venture equity on behalf of the development team executing an innovative Class A office-to-multifamily conversion project at 111 W. Illinois in the River North neighborhood of Chicago, IL. The joint venture equity was arranged on behalf of the development team and secured from an institutional limited partner based in Chicago. The equity portion of the transaction closed in late May 2025. Mag Mile was engaged by the development partners to secure an institutional equity partner who would quickly understand the uniqueness of this conversion opportunity and align with the vision of the partners. Matt Weilgus, SVP and Head of Originations of Mag Mile spearheaded the transaction. This strategic capital enables the newly formed joint venture to acquire the property and fund a portion of the construction costs required to convert a former Class A office component of the building to 153 Class A multifamily rental apartments. 'This transaction is noteworthy as it is one of the largest projects in Chicago to be executed in the post-Covid wave of office-to-residential conversions. Sponsorship engaged us on a tight timeframe to solidify the capital stack. We successfully and efficiently executed on the mandate by delivering a seasoned institutional capital partner with local market expertise to add value to the team beyond simply writing a check,' said Weilgus. Rushi Shah, Chairman and CEO commented on the closing: 'This was an exciting closing for Mag Mile Capital as this deal exemplifies the importance of longstanding relationships with both owner-developer clients and institutional equity capital partners. Mag Mile prides itself on its ability to solve all commercial real estate capital needs throughout the capital stack on behalf of its clients. This transaction involving a trophy project in our home market we are headquartered is a great source of pride internally and to be shared with our client and capital partner. We look forward to seeing this exciting project to fruition and continuing to deliver value to our clients nationwide.' Mag Mile Capital remains committed to delivering tailored financing and equity solutions across all commercial real estate sectors nationwide, leveraging its extensive network with capital source relationships and innovative structuring capabilities. Deal: 111 W. Illinois, Chicago, IL – Office-to-Multifamily Conversion Location: River North, Chicago, IL Capital type: JV Equity Loan Amount: $10,250,000 Closing Date: 05/30/2025 Originator: Matt Weilgus For the latest details on Mag Mile Capital investments, follow them on social media: Facebook, Twitter, LinkedIn, Instagram. About Mag Mile Capital – Turning Relationships into Closings Since 1991 Mag Mile Capital is a boutique full-service commercial real estate mortgage banking firm headquartered in Chicago with offices in the states of New York, Massachusetts, Connecticut, Florida, Texas, and Nevada. Mag Mile Capital is a national platform comprised of capital markets specialists with extensive experience in real estate bridge financing, mezzanine and permanent debt placement and equity arrangements throughout the full capital stack and across all major real estate asset classes. The firm offers preferred access nationwide to high-leverage, non-recourse, commercial real estate bridge loans and permanent mortgages with cash out financing for hotels, self-storage, multifamily, industrial, retail, office, and other commercial real estate property, offering access to structured debt and equity advisory solutions and placement for real estate investors, developers, and entrepreneurs, Mag Mile Capital leverages a wide variety of lending relationships and equity capital connections as a leading national real estate mortgage intermediary. Its personnel have collectively closed over $9 billion in real estate financing during their combined 32 years of experience in this industry. For the latest details on Mag Mile Capital investments, visit our website at: and follow us on social media: Facebook, Twitter, LinkedIn, Instagram. Forward-Looking Statements The Company believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as 'may,' 'might,' 'would,' 'should,' 'could,' 'project,' 'estimate,' 'pro-forma,' 'predict,' 'potential,' 'strategy,' 'anticipate,' 'attempt,' 'develop,' 'plan,' 'help,' 'believe,' 'continue,' 'intend,' 'expect,' 'future,' and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. The forward-looking statements in this press release include statements regarding the benefit of qualifying our common shares for trading on the OTCQB market. Such forward-looking statements, including but not limited to statements regarding the plans and objectives of management for future operations, are based on management's current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the company's products and services; competition from existing products or new products that may emerge; the implementation of the company's business model and strategic plans for its business and our products; estimates of the company's future revenue, expenses, capital requirements and need for financing; current and future government regulations; and developments relating to the company's competitors. Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them. For further information on such risks and uncertainties, you are encouraged to review the Company's filings with the Securities and Exchange Commission ('SEC'), including its quarterly report on Form 10-Q for the fiscal period ended September 30, 2024. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law. For further information contact: Attachment Figure: 1
