Elkem has integrated two Chinese entities into the Elkem group and renamed Bluestar Silicones to Elkem Silicones as part of its growth strategy.
The Norwegian group, which is owned by China National Bluestar Group, announced June 29 that it was assuming responsibility for Bluestar Xinghuo Silicones and Yongdeng Silicon Materials and integrating them into the Elkem group.
The two plants previously were owned directly by China National Bluestar, which is part of ChemChina.The move, said the Oslo-based Elkem, will further develop its integrated silicone value chain, from upstream quartz mining to silicon, silicones and downstream silicones specialities. It also increases the number of Elkem manufacturing sites to 26 and increases the number of employees to 6,200.
Additionally, Elkem said its silicones division is changing its name from Bluestar Silicones to Elkem Silicones.
"Being part of Elkem gives a strong financial foundation for further growth, enabling Elkem Silicones to remain a competitive and agile provider of innovative silicone solutions," said Frederic Jacquin CEO of Elkem Silicones, commenting on the developments.The new Elkem Silicones division will group together about 3,000 employees with an annual turnover of nearly $1.13 billion.
The division will have two upstream manufacturing sites, one in Asia and one in Europe, along with eight downstream manufacturing sites and 10 research and development centers worldwide.
"Our new footprint will contribute to offer our customers better service, stronger growth capabilities and continued security of supply," Jacquin added.
