According to RHI, the deal — which gives it a 51% stake in BPI — combines its global refractory expertise with BPI's American 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," the companies said in a statement.

The combination's key advantages, they said, are proximity to customers, an enhanced portfolio, and innovation and sustainability. The companies expect the deal to close in the second half of this year.

“By joining forces, we strengthen our ability to turn spent materials into future value, setting an example of how innovation and collaboration can drive real progress for our customers, our business, and the planet,” said Stefan Borgas, RHI Magnesita's chief executive officer. 

Craig Powell, RHI Magnesita regional president for North America said the combination is more than a partnership. 

“It’s a bold step toward redefining industry standards for sustainable sourcing and material recovery,” he said. “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.”

BPI president Joe Quigley added that the partnership will expand the company's portfolio and enhance its efforts to offer circular solutions.

“We are excited about the progress our combined companies will achieve for a better future,” he said.