Wacker acquires silicon-metal production site in Norway

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.