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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Orkla Sells Elkem to China National Bluestar for $2 Billion

8:47 AM MST | January 21, 2011 | —deepti ramesh

Industrial conglomerate Orkla (Oslo) says it has signed a binding agreement with China National Bluestar (Beijing), a subsidiary of China National Chemical Corp. (ChemChina; Beijing), for the sale of Elkem (Oslo) to Bluestar for $2 billion. The transaction comprises the Elkem Silicon Materials, Elkem Foundry Products, Elkem Carbon, and Elkem Solar businesses. Elkem’s main products include solar-grade silicon, silicon, special alloys for the foundry industry, carbon, and microsilica. “China is or will be the biggest and highest-growth market for silicon metal...

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