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Elkem Completes Sale of Silicone Division to Bluestar; Globa

Keywords: Elkem, Bluestar, silicone division sale, global market restructuring

Summary: Elkem completed the sale of its majority silicone division to Bluestar on May 10, 2026; the deal accelerates global silicone market restructuring.

Details:

Norwegian chemical firm Elkem finalized the sale of its 80% silicone business stake to China’s Bluestar (a ChemChina subsidiary) on May 10. The transaction, valued at USD 1.2 billion, includes Elkem’s silicone production facilities in Europe, Asia, and the Americas, with annual capacity of 120,000 tons. This move strengthens Bluestar’s global position (now 3rd largest silicone producer) and intensifies competition with WACKER, Dow, and Shin-Ei. Hongye Silicone monitors global market changes and adjusts its international expansion strategy accordingly.

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Elkem Completes Sale of Silicone Division to Bluestar; Globa

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