> Company / History
Magnesita was created in 1939, after the discovery of magnesite deposits in Brumado, State of Bahia (BA). Its industrial activities started in 1944 in Contagem, State of Minas Gerais (MG), with the production of alumina and silica-alumina refractory products, and since 1948, also producing magnesia and magnesia-chrome products.
Starting from 1960, Magnesita S.A. acquired and founded companies for production of inputs for ingot teeming, refractory concrete production, and electro-cast grain production among other items. These companies use raw material obtained in Brumado for production of basic refractory products. The 1960’s also marked the opening of the company capital, with the trading of its shares in the São Paulo Stock Exchange – Bovespa.
In the 1990 decade, the terminal port was inaugurated in Aratu (BA), where Magnesita exports sintered magnesia. In the same period, the marketing department was re-structured with the intention of reaching the cement industry. A new business model was started, particularly focusing on the iron and steel sector, transforming Magnesita into a solution supplier that operates very close to the customer, with customized products and services.
In September 2007, Rpar Holding S/A acquired Magnesita S.A.’s control. In February 2008, by means of the signature of a Shareholders’ agreement, a corporate restructuring was approved involving Rpar Holding S/A, Partimag S/A and Magnesita S.A. The objective of restructuring was to group the three companies into a single open company, with a simplified structure, aligning and consolidating the interests of all Group shareholders. The new organization resulted in the creation of Magnesita Refratários S.A. and its listing in the New Market of the Stock Exchange of São Paulo – Bovespa, in April 2008.
On April 25, 2008, Magnesita signed a contract for acquisition of all representative shares of the corporate capital of Insider – Insumos Refratários para Siderurgia Ltda, a company producing high technology monolithic and pre-shaped refractory products, with its headquarter in the city of Coronel Fabriciano (State of Minas Gerais – MG). In November 2008, Magnesita Refratários acquired LWB Refractories, a German company that was the leader in the market of basic refractory and dolomitic products of high added value. With strong presence in the European, North American and Asian markets LWB maintains long standing relationships with main producers of stainless steel and carbon long steels, as well as other iron and steel industries with electric and integrated steel mills.
The Company started, in 2009, the exportation of solutions based on the cost per ton of steel produced model or CPP (cost per performance). It is a business model in which the remuneration is directly related to the customer’s performance and not to the usual practice of the market, which pays by volume (in tons) of refractory products consumed.