Today announces Elkem and Bluestar Silicones International (BSI) that they formally join together into one company.
Elkem has bought all the shares in French Bluestar Silicones International (BSI).
The merger is a formalization of an already close collaboration between the two companies through the supply chain to silicon. The aim of the acquisition is to position the new company for profitable growth in the silicon market, a market that is growing rapidly, it emerges from a message.
– This is an investment in Elkem, which strengthens and builds up operations in both Norway and France. Elkem and BSI is a vertically integrated silicone company with financial strength and ability to grow and make money in all our business areas. Meanwhile, we keep a lot of distinctive character that has given both Elkem and BSI success, says Helge Aasen, CEO of Elkem.
Aasen will continue to lead the company and the management team will consist of members of both Elkem and BSI. The name of the new company will Elkem, but all registered brand name will remain unchanged. The main office will be in Oslo.
– This is a new and exciting direction for us all. New Elkem will have 14 billion in annual sales. We will be able to compete and grow in both new and established markets. We will benefit from the knowledge and experience of 3,500 people and being present in about 50 countries worldwide, says Aasen in the message.
– With tighter integration and additional resources we can capture market share in a dynamic market growing, says Frédéric Jacquin, CEO of BSI.
Elkem will have a fully integrated value chain from quartz to silicon products. The company will also compete in the market for special alloys for foundries and carbon materials.
Simultaneously with the acquisition of BSI, Elkem AS excrete its 50 percent share of Elkem Solar on the road to closer integration with REC Solar, which became a part of Elkem group in May this year.
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