Wacker Acquires Silicon-Metal Production Site in Norway |
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Wacker Chemical Corp.
3301 Sutton Rd.
Adrian, MI, 49221
USA
Press release date: July 1, 2010
Munich, July 1, 2010 - Wacker Chemie AG has successfully concluded its acquisition of the silicon-metal production site in Holla from FESIL Group (Norway). The transaction announced early last month has now been cleared by the relevant antitrust authorities and approved by WACKER's and FESIL's supervisory bodies. Under the terms of the transaction, WACKER takes over for a purchase price of around 65 million all of FESIL's production facilities in Holla, including the related real estate. The strategic acquisition is a key step in securing WACKER's long-term supply of silicon metal. Acquiring Holla makes the Munich-based chemical company more independent of raw-material price fluctuations and increases its supply security during peak-demand periods.
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.
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