Elkem has sold majority of Silicones division to Bluestar

"By divesting the majority of the Silicones division, we are simplifying our business, sharpening our strategic focus and allocating capital where we see strong long‑term growth opportunities," says CEO Helge Aasen.

 

Following the transaction, Elkem consists of three business divisions, all with leading positions in their markets:

• Elkem Silicon, a provider of silicon, ferrosilicon, microsilica and related specialty products to chemical, steel, aluminium and other industries;
• Elkem Foundry Alloys, a provider of foundry alloys to iron foundries;
• Elkem Carbon, a supplier of electrode paste and speciality products to the ferroalloys, silicon and aluminium industries.

 

Transaction summary

• Elkem sold majority of the Silicones division to Bluestar to create a focused, globally-leading metals and materials producer
• Transaction settled through redemption of Bluestar’s 338,338,536 shares (52.9%) in Elkem. No cash payments by Elkem nor Bluestar as settlement
• Minority investors assumed 100% control of Elkem (listed)

Read the full press release: Elkem announces agreement to sell majority of Silicones division to Bluestar

Watch the webcast: Elkem Webcast Q4 2025

For more post-transaction updates, visit Elkem.com/investor.