China’s Bluestar Buying Norway’s Elkem | January 17, 2011 Issue - Vol. 89 Issue 3 | Chemical & Engineering News
Volume 89 Issue 3 | p. 18 | Concentrates
Issue Date: January 17, 2011

China’s Bluestar Buying Norway’s Elkem

Department: Business
Keywords: silicon, silicones, China, Norway

The Norwegian firm Orkla has agreed to sell its Elkem subsidiary to China National Bluestar for $2 billion. Elkem, which had 2009 sales of about $1.2 billion, produces solar-grade silicon, microsilica, and alloys for the foundry industry. Bluestar, with annual sales of more than $6 billion, is 80% held by state-owned ChemChina and 20% by the Blackstone Group, a private equity firm. Among Bluestar’s acquisitions in recent years was Rhodia’s silicones business.

 
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