Elkem

Elkem was founded in 1904 by the industrial entrepreneur Sam Eyde (1866 – 1940). He named the company Det Norske Aktieselskap for Elektrokemisk Industri (Elektrokemisk), and the goal was to create an international industry company based on Norwegian natural resources. In 1917 a ferroalloy plant was acquired and Elkem started production of the Söderberg electrode.[1]

Throughout the 1960s and beyond Elkem expanded, primarily in Norway within aluminium, mining and finished products. In 1972 the company merged with Christiania Spigerverk and continued with an international expansion within ferroalloys and steel. In 1981-84 Elkem acquired Union Carbides plants in Norway and North America and in 1986 the plants at Thamshavn and Bjølvefossen. In the 2000s Elkem had acquired Icelandic Alloy, Remi Claeys Aluminium and Sapa.[2]

Between 2002 and 2005 there was an acquisition war between the US aluminium corporation Alcoa and Orkla. At the peak Alcoa owned 40% of Elkem, but Orkla succeeded at purchasing the majority of the shares and in 2005 Orkla acquired all the shares of Elkem and Elkem became part of Orkla Group.

In January 2011 Orkla ASA signed a binding agreement with China National Bluestar Group to sell Elkem, including Elkem Silicon Materials, Elkem Foundry Products, Elkem Carbon and Elkem Solar for a sales price of $2 billion.[3] The deal excluded 85 percent of the hydroelectric power company Elkem Energi AS, which remained with Orkla.[3]

Elkem became publicly listed on the Oslo Stock Exchange in March 2018. Michael Koenig has been the Chief Executive Officer since December 2019.[4]

In June 2017 Elkem assumed management responsibility of Xinghou Silicones, a silicones producer, and Yongdeng Silicon Materials, a silicon producer.[5]

Elkem has been ranked as among the 13th best of 92 oil, gas, and mining companies on indigenous rights and resource extraction in the Arctic.[6]

• Elkem Thamshavn