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WACKER acquires silicon-metal production site in Norway

Published on 2010-06-08. Author : SpecialChem

Munich -- Wacker Chemie AG is acquiring the Norwegian FESIL Group's silicon-metal production site in Holla (near Trondheim). The two companies signed a purchase agreement to this effect on Friday night, June 4, 2010. The transaction still requires approval of WACKER's supervisory board and FESIL's board of directors as well as clearance by the antitrust authorities. Under the terms of the transaction, WACKER takes over all of FESIL's production facilities in Holla, including the related real estate. The Munich-based chemical company intends to continue employing the site's existing workforce of some 140. Closing of the transaction is expected before the end of Q3 2010.

"This strategic acquisition is a key step in securing our long-term supply of silicon metal," said Group CEO Rudolf Staudigl. "Acquiring Holla makes us more independent of raw-material price fluctuations and increases our supply security during peak-demand periods."

"This acquisition represents a strategic change, bringing the Holla Silicon Metal plant into an integrated part of WACKER's silicone value chain", says Thorstein Abrahamsen, CEO of FESIL. "FESIL AS will now focus its resources on ferrosilicon metal production and develop its world wide ferroalloy trading as well as industrialize its Solsilc Solar Grade Silicon Metal Process now at the pilot stage."

Silicon metal is one of WACKER's most important raw materials and is needed for the production of silicones and hyperpure polysilicon. Holla Metall's production capacity is around 50,000 metric tons of silicon metal per year, which corresponds to about one third of WACKER's current annual needs.

This press release contains forward-looking statements based on assumptions and estimates of WACKER's Executive Board. Although we assume the expectations in these forward-looking statements are realistic, we cannot guarantee they will prove to be correct. The assumptions may harbor risks and uncertainties that may cause the actual figures to differ considerably from the forward-looking statements. Factors that may cause such discrepancies include, among other things, changes in the economic and business environment, variations in exchange and interest rates, the introduction of competing products, lack of acceptance for new products or services, and changes in corporate strategy. WACKER does not plan to update the forward-looking statements, nor does it assume the obligation to do so.

Source: Wacker Chemie AG


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