Finalized sale of Timminco acquired by QSI Partners and Grupo FerroAtlántica

The Ontario Superior Court of Justice has finally put Timminco and its wholly-owned subsidiary Bécancour Silicon out of its misery, granting the necessary approvals to officially complete the sale of the company. As reported by PV-Tech in April, the winning bids came from QSI Partners and Grupo FerroAtlántica.

The bid submitted by QSI Partners, a subsidiary of Globe Specialty Metals, acquired all of the silicon metal business and assets of Bécancour Silicon, including its 51% ownership interest in Québec Silicon, for a cash purchase price of approximately US$31.9 million.

Grupo FerroAtlántica procured all of the assets relating to the inactive solar grade silicon business formerly conducted by Timminco Solar for a cash purchase price of approximately US$2.7 million.

Both bids now expected to close in the next couple of weeks.
 

PV-Tech Storage Promo

Newsletter

Preview Latest
Subscribe
We won't share your details - promise!

Publications

  • Photovoltaics International 25th Edition

    In this issue we offer some insights into what the next wave of photovoltaic technologies may look like as that upturn gathers pace. Industry observers have been in broad agreement that the major next-gen PV technology innovations won’t happen straight away. But there’s also little doubt that the search is now on in earnest for the breakthroughs that will come to define the state of the art in the industry in the years to come.

  • Manufacturing The Solar Future: The 2014 Production Annual

    Although the past few years have proved extremely testing for PV equipment manufacturers, falling module prices have driven solar end-market demand to previously unseen levels. That demand is now starting to be felt by manufacturers, to the extent that leading companies are starting to talk about serious capacity expansions later this year and into 2015. This means that the next 12 months will be a critical period if companies throughout the supply chain are to take full advantage of the PV industry’s next growth phase.

Partners

Acknowledgements

Solar Media