01.04.2011 • NewsDow CorningWackerChina National BlueStar

China's BlueStar Wins EU Okay To Buy Orkla Unit

Chinese state-run chemicals company China National BlueStar secured EU regulatory approval on Friday to buy Norwegian conglomerate Orkla's silicon division Elkem for $2 billion.

The acquisition will give BlueStar, which is backed by U.S. private equity firm Blackstone Group, access to technology that could help China reduce its emissions of greenhouse gases.

The EU's competition chief Joaquin Almunia said in a statement: "Even assuming all Chinese state-owned firms in the sector acted as one, European consumers would still enjoy sufficient competition from other players serving the market."

Elkem, which produces high-grade silicon for the solar industry and computers, has production facilities in Europe, North and South America, Africa and Asia.
Other strong players serving European consumers include FerroAtlantica of Spain, Dow Corning of the United States and Germany's Wacker, the EU competition watchdog said.

 

CHEManager Spotlight

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics
Creating Interfaces

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics

CHEManager Spotlight is an exclusive event tailored for practitioners and decision-makers in the chemical industry. This part of our event series delves into the latest trends and innovations in logistics to streamline your operations and drive efficiency.

Whitepaper

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)
Setting the Standard

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)

Are you ready to elevate your pharmaceutical operations? Download our exclusive whitepaper and discover how compliance with Good Distribution Practice (GDP) is essential for the safety and integrity of pharmaceuticals.