This development builds on the already close relationship between the two entities through the silicone value chain. The main aim of legal and financial integration is to position the Company for profitable growth in all business areas.
Elkem has purchased all the shares of BSI. The purpose of the transaction is to create a vertically integrated silicones player and a financially robust company with the ability to grow profitably in all business segments, while maintaining the expertise and market driven organisations that have been the basis for success.
CEO Helge Aasen will lead the Company and the management team will consist of members from both Elkem and BSI. The name of the Company will be Elkem, however all registered trademarks will be left unchanged.
“This marks a new and exciting direction for all of us. The new company will have revenues of 1,6 BEUR (14 BNOK) and the ability to compete and grow in both new and established markets. We will benefit from the expertise and experience of 3500 employees and have a presence in about 50 countries around the globe”, says Helge Aasen.
“This move will enable us to benefit from stronger integration and additional resources to capture the growth worldwide of this dynamic market environment.” says Frédéric Jacquin, CEO of BSI.
The company will have a fully integrated value chain from quartz to downstream silicone specialities as well as competing in the markets for specialty foundry alloys and carbon materials.
For more information, please call:
Kristin Karlstad, VP Public Relations, Elkem +47 99 22 66 04
Jean-François Granat, Communications Director + 33 4 72 13 19 00
About Elkem AS
Elkem is one of the world's leading companies for environmentally-friendly production of silicon, special alloys for the foundry industry, carbon products and microsilica. Elkem has 14 production facilities in Europe, North and South America, Africa and Asia, as well as an extensive network of sales offices and agents. The Elkem Group employs about 2,100 people and is headquartered in Oslo, Norway. Helge Aasen has been the CEO of Elkem AS since 2009, and is also member of Elkem’s Board. Operating revenues for the Elkem Group in 2014 were NOK 8.6 billion (USD 1.1 billion). Elkem is part of the China National Bluestar group. www.elkem.com
About Bluestar Silicones International
With worldwide operations headquartered in Lyon, France, Bluestar Silicones is a $650 million worldwide silicones raw material manufacturer. The company is one of the world’s leading fully integrated global silicones manufacturers with more than 60 years of silicone expertise. Bluestar Silicones has manufacturing operations throughout the world and combines upstream silicon metal operations and capacity with downstream silicone market and application development expertise. The company offers a comprehensive range of silicone technologies in support of diverse specialty markets including paper release, textile coatings, healthcare, moldmaking, automotive, aerospace, and personal care. As of 19 June BSI is owned by Elkem AS, Norway. www.bluestarsilicones.com