Oslo, Norway - Elkem has integrated two Chinese entities into the Elkem group and renamed Bluestar Silicones to Elkem Silicones as part of its growth strategy.
The Norwegian group, which is owned by China National Bluestar Group, announced on 29 June that it was assuming responsibility for Bluestar Xinghuo Silicones and Yongdeng Silicon Materials and integrating them into the Elkem group.
The two plants were previously owned directly by China National Bluestar, which is part of ChemChina.
The move, said the Oslo-based group, will further develop 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 6200 employees.
Additionally, along with the new additions, Elkem announced that its 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,” said Frederic Jacquin CEO of Elkem Silicones, commenting on the developments.
The new Elkem Silicones division will group together about 3000 employees with an annual turnover of nearly €1 billion.
The division will have two upstream manufacturing sites, one in Asia and one in Europe, along with eight downstream manufacturing sites and 10 R&D centres worldwide.
“Our new footprint will contribute to offer our customers better service, stronger growth capabilities and continued security of supply,” Jacquin added.