-As a result of lower prices, the margins have been reduced but we have compensated by cost reductions, increased volumes and focus on speciality products says CFO Morten Viga.
Elkem had a continued focus on growth in 2016, acquiring two new plants, the iron foundry business of Minex Metallurgical Co. Ltd. and Fesil Rana Metall AS in Norway. The company has also commenced production at a new carbon plant in Malaysia and is constructing a new ferrosilicon plant in Paraguay, as well as increasing the capacity of a foundry plant in China. Elkem is currently also planning an upgrade of the plant in Bremanger.
-We want to keep investing in our Norwegian plants to ensure cost improvements and increased capacity. The other dimension is international growth, investing in new projects and companies, primarily in Asia, says CFO Morten Viga.