Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Elkem, owned by the Orkla Group, is one of Norway's largest industrial companies, and one of the world's leading suppliers of metals and materials. The main products are aluminium, energy, silicon metal and specialised products such as ferrosilicon to foundries, microsilica and carbon. Elkem has 14 production plants in Europe, North America,
South America and Asia, in addition to several hydroelectric power systems.
The owner of the Elkem Group, Orkla, announced after a Board meeting on 27 October 2006 that one of Elkem's daughter companies - Elkem Solar - will start production of super clean silicon metal to be used in solar cells. About 150 new jobs will be created at a new factory that will be built in Kristiansand and integrated with the existing silicon metal plant Elkem Fiskaa.
The solar engagement is built on a new and environmentally friendly technology and will cost approximately 2.7 billion NOK. At the beginning the new factory will produce 5,000 tons of solar cell silicon metal a year. The first delivery is expected by mid 2008.
According to Orkla this investment will be the foundation of a new high technology business area for the group with a potential for expansion. This investment is regarded as one of the largest efforts within Norwegian manifacturing industry since the 1980's.
Eurofound (2006), Elkem Solar, Business expansion in Norway, factsheet number 64310, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64310.
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