EANS-News: WACKER Acquires Silicon-Metal Production Site in Norway
- ANTITRUST AUTHORITIES CLEAR TAKEOVER OF HOLLA SILICON SITE
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Company Information
Subtitle: - ANTITRUST AUTHORITIES CLEAR TAKEOVER OF HOLLA SILICON SITE
Munich (euro adhoc) - July 1, 2010 - Wacker Chemie AG has successfully concluded its acquisition of the silicon-metal production site in Holla from FESIL Group (Norway). The transaction announced early last month has now been cleared by the relevant antitrust authorities and approved by WACKER´s and FESIL´s supervisory bodies. Under the terms of the transaction, WACKER takes over for a purchase price of around EUR65 million all of FESIL´s production facilities in Holla, including the related real estate. The strategic acquisition is a key step in securing WACKER´s long-term supply of silicon metal. Acquiring Holla makes the Munich-based chemical company more independent of raw-material price fluctuations and increases its supply security during peak-demand periods.
Silicon metal is one of WACKER´s most important raw materials and is needed for the production of silicones and hyperpure polysilicon. 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.
This press release contains forward-looking statements based on assumptions and estimates of WACKER´s Executive Board. Although we assume the expectations in these forward-looking statements are realistic, we cannot guarantee they will prove to be correct. The assumptions may harbor risks and uncertainties that may cause the actual figures to differ considerably from the forward-looking statements. Factors that may cause such discrepancies include, among other things, changes in the economic and business environment, variations in exchange and interest rates, the introduction of competing products, lack of acceptance for new products or services, and changes in corporate strategy. WACKER does not plan to update the forward-looking statements, nor does it assume the obligation to do so.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Christof Bachmair
Media Relations & Information
Tel.: +49 (0)89 6279 1830
E-Mail: christof.bachmair@wacker.com
Branche: Chemicals
ISIN: DE000WCH8881
WKN: WCH888
Index: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX,
Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Original content of: Wacker Chemie AG, transmitted by news aktuell