Elkem and Bluestar Silicones International (BSI) announce their formal integration into one company. This development builds on the already close relationship between the two entities through the silicone value chain. The main aim of legal and financial integration is to position the Company for profitable growth in all business areas.
Elkem has purchased all the shares of BSI. The purpose of the transaction is to create a vertically integrated silicones player and a financially robust company with the ability to grow profitably in all business segments, while maintaining the expertise and market driven organisations that have been the basis for success.
CEO Helge Aasen will lead the Company and the management team will consist of members from both Elkem and BSI. The name of the Company will be Elkem, however all registered trademarks will be left unchanged.
"This marks a new and exciting direction for all of us. The new company will have revenues of 1,6 BEUR (14 BNOK) and the ability to compete and grow in both new and established markets. We will benefit from the expertise and experience of 3500 employees and have a presence in about 50 countries around the globe", says Helge Aasen.
"This move will enable us to benefit from stronger integration and additional resources to capture the growth worldwide of this dynamic market environment." says Frédéric Jacquin, CEO of BSI.
The company will have a fully integrated value chain from quartz to downstream silicone specialities as well as competing in the markets for specialty foundry alloys and carbon materials.