WACKER Finalizes Acquisition of Silicon-Metal Production Site in Norway
* Antitrust Authorities Clear Takeover Of Holla Silicon Site
Munich, 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 WACKERís and FESILís supervisory bodies. Under the terms of the transaction, WACKER takes over for a purchase price of around Ä65 million all of FESILís production facilities in Holla, including the related real estate. The strategic acquisition is a key step in securing WACKERís 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 WACKERís most important raw materials and is needed for the production of silicones and hyperpure polysilicon. Holla Metallís production capacity is around 50,000 metric tons of silicon metal per year, which corresponds to about one third of WACKERís current annual needs.
This press release contains forward-looking statements based on assumptions and estimates of WACKERís Executive Board. Although we assume the expectations in these forward-looking statements are realistic, we cannot guarantee they will prove to be correct. The assumptions may harbor risks and uncertainties that may cause the actual figures to differ considerably from the forward-looking statements. Factors that may cause such discrepancies include, among other things, changes in the economic and business environment, variations in exchange and interest rates, the introduction of competing products, lack of acceptance for new products or services, and changes in corporate strategy. WACKER does not plan to update the forward-looking statements, nor does it assume the obligation to do so.
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