Based in Norway, Elkem is one of the world’s leading companies for environmentally responsible production of metals and materials. Its principal products are silicon, silicones, ferrosilicon, foundry alloys, carbon materials and microsilica.
The authorities have approved the transaction between Elkem and Fesil AS and the agreement is now closed. Elkem will now start to integrate the new Elkem Rana AS into the Elkem organization.
The consideration was approximately cash equal to net asset value, subject to certain adjustments between the parties related to the profitability of Rana before Closing. Elkem has also purchased all Rana ferrosilicon inventory for consideration equal to fair market value upon Closing.
For more information and interviews, please contact:
Kristin Karlstad, VP Public Relations, Elkem on +47 99 22 66 04
Elkem is one of the world’s leading providers of silicon-related advanced materials. The Company is a fully integrated producer with operations throughout the silicon value chain from quartz, silicon and downstream silicone specialities as well as speciality ferrosilicon alloys and carbon materials. Headquartered in Norway, Elkem has a strong global footprint with about 3700 employees, 23 production plants, two research centres and sales offices in over 50 countries. Elkem is owned by China National Bluestar.
About Fesil Rana Metall and Nor-Kvarts AS
Fesil Rana Metall is a producer of standard and speciality ferrosilicon and microsilica based in Mo i Rana, Norway. The company has approximately 100 employees. Revenues in 2015 were 910 million NOK. Nor-Kvarts AS is a joint venture between Elkem and Fesil that runs five quartz production facilities in Spain.