Wacker Chemie has signed a purchase agreement with Norway’s Fesil Group for the handover of its silicon metal production plant in Holla, close to Trondheim. With a capacity of around 50,000 metric tons per annum, the transaction will ensure Wacker’s supply of silicon metal in the long term, providing approximately one third of its annual silicon metal needs for the production of silicones and hyperpure polysilicon.
The approximately €65 million agreement is subject to approval by the Wacker supervisory board and Fesil’s board of directors, as well as the antitrust authorities.
Wacker will take over all of Fesil’s production facilities in Holla, including the related real estate, and has stated that it intends toe keep on the in or around 140 staff at the Holla plant.
The transaction is expected to be finalised by the end of the third quarter 2010
“This strategic acquisition is a key step in securing our long-term supply of silicon metal,” said Group CEO Rudolf Staudigl. “Acquiring Holla makes us more independent of raw-material price fluctuations and increases our supply security during peak-demand periods.”