Brief: Elkem Curtails Production In Norway Due To High Power Prices

Elkem ASA

19/12/2022 08:02

Dec 19 (Reuters) - Elkem ASA  ELK.OL :
    * ELKEM CURTAILS PRODUCTION IN NORWAY DUE TO HIGH POWER
PRICES
    * DECIDED TO PARTIALLY CURTAIL ITS PRODUCTION IN NORWAY BY
TEMPORARILY SHUTTING DOWN TWO FURNACES - ONE AT THAMSHAVN AND
ONE AT RANA
    * IN CURRENT MARKET, CURTAILING PRODUCTION ENABLES COMPANY
TO
OPTIMISE VALUE CREATION BY SELLING ITS POWER AT HIGHLY
ATTRACTIVE RATES IN NORWEGIAN POWER MARKET
    * DECISION WILL HAVE NO IMPACT ON CUSTOMERS OR EMPLOYEES.
    * TWO FURNACES ARE EXPECTED TO REMAIN SHUT UNTIL EARLY Q1
2023

Source text for Eikon:  ID:nWkr7Jrcrg 
Further company coverage:  ELK.OL 
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