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The Norwegian silicon and silicone producer Elkem has agreed to buy Polysil, a Chinese silicone-resin producer, for up to $136 million subject to a performance-related bonus. Polysil has more than 350 employees and in 2019 generated pretax profits of $16 million on sales of $136 million. Elkem expects that the deal, to close in April, will strengthen its hand in specialized silicones in China and help it leverage its position as a producer of raw materials and intermediates.
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