Shanghai, China – Norway-based Elkem Silicones, part of Elkem SA, has signed letters of intent with potential Chinese customers during the third China International Import Expo (CIIE) held in Shanghai 5-10 Nov.
The three potential contracts value over NOK 1.3 billion (€120 million), said Elkem Silicones in a statement 6 Nov.
The deals signify China as "the most important market for Elkem Silicones," according Frederic Jacquin, SVP Elkem Silicone.
“After the initial impact of Covid-19, we now see demand recovering strongly [in China],” said Jacquin.
Noting Elkem's strong presence in China, Jacquin said the company had made “every effort to ensure the smooth supply of products to customers [in China], and the revenue has also grown steadily."
Elkem, Jacquin went on to say, is “the largest silicones producer in China and our strategy is to continue to grow and develop high-end products."
The Elkem Silicones division has thirteen plants: Xinghuo Silicones, China; Roussillon, France; Saint-Fons, France; Caronno, Italy; Lubeck, Germany; Santa Perpetua, Spain; Joinville, Brazil; York, US; Janghang, South Korea; Chakan, India; as well as Guangdong and Shanghai in China.