Elkem, a prominent Norwegian materials company, has finalized an agreement to sell the majority of its silicon production division to Chinese firm Bluestar. This transaction is part of a strategic review initiated in early 2025, aimed at strengthening the foundation for long-term value creation. Dag J. Opedal, the vice chairman of Elkem's board, highlighted the deal's alignment with the board's ambition to enhance shareholder returns and streamline operations.

Bluestar, which already holds a significant stake in Elkem, specializes in the production of silicone, silicon, and carbon-based materials. Following the sale, Elkem will refocus as a pure-play metal and materials manufacturer, shifting its operational strategy to cater to core competency areas. This move is expected to re-position Elkem in the competitive landscape and allow for a stronger industry foothold as a focused entity in the metal and materials sector.

Helge Aasen, the CEO of Elkem, emphasized that this development marks an important new chapter for the company and represents a commitment to securing jobs and maintaining a long-term presence in various industrial communities along the Norwegian coast, from Kristiansand to Tana. The implications of this sale not only reflect corporate restructuring but also indicate significant changes in regional manufacturing dynamics as Elkem looks to enhance its operational efficiency in a challenging market.