Norway's Elkem may divest Silicones division

Elkem ASA

23/01/2025 07:14

OSLO, Jan 23 (Reuters) - Norwegian metals maker Elkem
 ELK.OL  said on Thursday it has launched a strategic review of
its Silicones division, signalling that the unit may be sold or
spun off.
    "The review is initiated with a target to streamline Elkem,
as well as to enable allocation of capital to accelerate growth
in the Silicon Products and Carbon Solutions divisions," the
group said in a statement.
    Silicones had operating income of 10.96 billion Norwegian
crowns ($971 million) in the first nine months of 2024, up 2%
year-on-year, and a profit before interest, tax, depreciation
and amortisation of 145 million, up from a loss of 672 million.
    Elkem has engaged ABG Sundal Collier ASA as financial
advisor, the company said.

($1 = 11.2864 Norwegian crowns)

 (Reporting by Terje Solsvik, editing by Louise Rasmussen)
 ((terje.solsvik@thomsonreuters.com; +47 918 666 70;))