STOCKHOLM, Feb. 10, 2021 /PRNewswire/ -- Elkem has signed an agreement to acquire a brand-new plant near Lyon in France, custom-designed for producing highly specialised organo-functional silicones (OFS). The acquisition underpins Elkem's strategy of growth and specialisation.
The purchase price is in the low double-digit millions of euros, and production is expected by the end of the year.
"With this acquisition, Elkem continues to deliver on our growth and specialisation strategy. This new plant will enable us to more quickly extend our offerings within advanced high value products for attractive specialty markets, further strengthening our position as one of the world's leaders in fully integrated silicone manufacturing," says Michael Koenig, CEO of Elkem.
Organo-functional silicones combine the superior performance of silicones with the functionality, compatibility and potential reactivity of organic materials. The processing is advanced and gives OFS products with highly specialised properties.
"Elkem already has a broad global offering of advanced silicone solutions, ranging from commodities to specialties. We have recently complemented our portfolio of specialties with the acquisitions of Polysil and Basel Chemie. The acquisition of this new OFS plant provides the technology and capacity to further accelerate our growth, particularly within release coatings, personal care and other specialty markets. It is a good example of how we position for the future, in a complex market environment," says Frederic Jacquin, SVP Elkem Silicones.
The OFS plant is located near Elkem Silicones' existing activities south of Lyon, including both the upstream plant in Roussillon as well as the production site and R&D center in Saint-Fons.
"This acquisition reinforces Elkem's solid footprint in France. The new production capacity is in line with our strong commitment to support our development in the Auvergne-Rhône-Alpes region," says Bertrand Mollet, EMEA Region Director Elkem Silicones.
Laurent Leservoisier, Elkem Silicones
General Counsel & Communication Director
+ (33) 4 72 13 19 00
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SOURCE Elkem Silicon