Corporation News
Delivery Completed for Elkem''s Purchase of Fesil Rana Metall AS
Source: China National Chemical Corpor Date: 2016-12-06

On December 5, Elkem, an overseas subsidiary of Bluestar, announced that its deal to buy Fesil Rana Metall AS had been approved by the government and the delivery had been completed. The consolidation is about to kick off.

Earlier on August 15, Elkem signed an agreement with Fesil AS to purchase all the shares of Fesil Rana Metall AS and its 33% shares in Nor-Kvarts AS.

Background information:

Elkem is a world leading producer of silicon metals, silicone, silicon powder, castings and carbon and owns a complete silicon industrial value chain. Headquartered in Norway, it hires 3,600 employees, and owns 22 production plants and two research centers as well as sales representative offices in more than 50 countries around the globe.

Fesil Rana Metall AS is located in Mo i Rana, Norway, and produces standard ferrosilicon, special ferrosilicon and silicon powder. It has a workforce of about 100 who generated revenue of 910 million Norwegian krone (equivalent to 737 million yuan) in 2015. Nor-Kvarts AS is a joint venture between Elkem and Fesil Rana Metall AS, engaged in the exploitation of quartz ore, and owns five quartz ore mining plants in Spain.

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