IFGL Refractories Ltd (Sundergarh, Orissa and Kolkata) has entered into an in-principle agreement for the purchase of 96.16% of the share capital of Hofmann Ceramic GmbH (Breitscheid, Hessen, Germany) – to include the subsidiaries, namely Hofmann Ceramic CZ, Czech Republic and Hofmann Ceramics Ltd, UK – and 100% of the Capital contribution of Hofmann OHG, Germany. These purchases will be effected by IFGL's step-down subsidiary, Monocon International Refractories Ltd in the UK.

Hofmann entities are predominantly engaged in the manufacture of Ceramic Filters and other refractories for the foundry industry. The operating facilities are located at Breitscheid-Erdbach in Germany and Bela in the Czech Republic. Hofmann Ceramic products are well regarded in the foundry industry. Post closing operations of Hofmann entities will continue to be spearheaded by Hartmut Hofmann, current Managing Director, and the products marketed under the ‘Hofmann Ceramic’ brand. The combined turnover of Hofmann entities is €13.67 million.

The acquisition of Hofmann entities will enable IFGL and its subsidiaries in Brazil, China, UK and USA presently engaged in the manufacture of specialised refractories and operating systems for the producers of iron and steel, to diversify and serve the foundry industry. This will also give the group two manufacturing bases in the European Union.

In India, IFGL Refractories has installed capacities (approximate) of 360,000 pieces per year of carbon bonded refractories for continuous casting, 300,000 pieces per year slide gate refractories, 24,000 pieces per year purge plugs, 72,000 pieces per year cast products in addition to 24,000 metric tons per year unshaped/castables etc.