LYON, France — June 30, 2017— Elkem announces the integration of two Chinese entities into the Elkem group, as well as the renaming of Bluestar Silicones to Elkem Silicones.
As part of Elkem’s growth strategy we are assuming responsibility for Bluestar Xinghuo Silicones and Yongdeng Silicon Materials and integrating them into the Elkem group. The two plants have previously been owned directly by our owners, China National Bluestar. This move further develops Elkem’s integrated silicone value chain, from upstream quartz mining to silicon, silicones and downstream silicones specialities. The Elkem group will now have 26 manufacturing sites and about 6,200 employees.
With this integration, Elkem can capitalize on the strengths of its industrial footprint, R&D competencies, and sales and marketing excellence so that Elkem Silicones can provide even more value to our customers and stakeholders. We are excited to grow the Elkem group and to develop the company further, says Helge Aasen, CEO of Elkem.
At the same time as Elkem assumes responsibility for the two new entities, Elkem’s silicones division is changing its name from Bluestar Silicones to Elkem Silicones.
Being part of Elkem gives a strong financial foundation for further growth, enabling Elkem Silicones to remain a competitive and agile provider of innovative silicone solutions. Elkem Silicones will become an important player in the fast-growing silicones industry to enable our customers to deliver their potential, said Frederic Jacquin CEO of Elkem Silicones.
The new Elkem Silicones division will group together about 3000 employees for an annual turnover approaching 1 billion euros. The division will operate with a strong base comprising two upstream manufacturing sites, one located in Asia and one located in Europe, along with eight downstream manufacturing sites and 10 R&D centers worldwide.
“We are excited to be part of this growth story and to keep improving and developing our offering in the silicones industry further,” said Jacquin. “Our new footprint will contribute to offer our customers better service, stronger growth capabilities and continued security of supply.”
Posted June 30, 2017
Source: Elkem
