India’s leading refractory supplier RHI Magnesita India has acquired the refractory business portfolio of Hi-Tech Chemicals Limited in an all-cash deal of INR 621 crores (USD 75.7) million. RHI Magnesita India said it will strengthen and enlarge its offering to enhance the company's position in the domestic and international flow-control refractory business. It said that the acquisition process will be completed within the next few months. Hi-Tech's refractory business is present in India and 6 other countries across Europe, Africa and Asia. According to the RHI Magnesita, Hi-Tech posted a turnover of INR 270 crore in the financial year 2021-2022 against INR 221 crore in the preceding fiscal. RHI Magnesita India is refractory solutions platform offering the industry’s most comprehensive product and solutions portfolio. This includes Magnesia and Alumina based bricks and mixes for large industrial customers as well as specialty refractory products like Isostatic products and Slide Gates. It brings in the Global R&D and Technical expertise and experience of parent RHI Magnesita Group to customers in India.