Jun 7, 2010 - Germany-based Wacker Chemie AG is acquiring the Norwegian FESIL Group s silicon-metal production site in Holla (near Trondheim).
The two companies signed a purchase agreement to this effect on Friday night, June 4, 2010. The transaction still requires approval of Wacker s supervisory board and FESIL s board of directors as well as clearance by the antitrust authorities. Closing of the transaction is expected before the end of Q3/2010.
For Wacker, this acquisition is a key step in securing its long-term supply of silicon metal at stable prices. Holla Metall s production capacity is around 50,000 metric tons of silicon metal per year, which corresponds to about one third of Wacker s current annual needs.
Under the terms of the transaction, Wacker takes over all of FESIL s production facilities in Holla, including the related real estate. The Munich-based chemical company intends to continue employing the site s existing workforce of some 140.
