Elkem has decided to accelerate maintenance at its plant in Iceland. The
accelerated maintenance will curtail production by temporarily shutting down one
furnace at the ferrosilicon plant in Grundartangi, about 40 kilometres from the
capital Reykjavik. The decision will have no impact on customers or employees.
"We continue to utilise a period with somewhat lower sales to bring forward
planned maintenance and improvement work to position for the future, now at our
plant in Iceland. This will enable lower production costs once stronger market
conditions return," says Elkem's senior vice president for Silicon Products,
Inge A. Grubben-Strømnes.
Elkem will invest a total of around NOK 100 million in maintenance and
improvement at the plant. As a result, the plant will have one furnace out for
approximately ten weeks in the fourth quarter of 2023.
The core product at Elkem in Iceland is ferrosilicon (FeSi), which is a key
material for the steel industry. FeSi is either used for refining of steel or as
an ingredient to reach predetermined qualities. Elkem has always produced
standard FeSi in Iceland, but in recent years, the plant has expanded its
portfolio of specialty FeSi to meet increased market demand for such products.
Elkem has previously curtailed furnaces also in Thamshavn and Rana in Norway due
to maintenance and improvement work. These are now back to normal production.
For further information, please contact:
Odd-Geir Lyngstad
VP Finance & Investor Relations
Tel: +47 976 72 806
Email: odd-geir.lyngstad@elkem.com
Fredrik Norman
VP Corporate Communications & Public Affairs
Tel: +47 918 66 567
E-mail: fredrik.norman@elkem.com
About Elkem
Elkem is one of the world's leading providers of advanced silicon-based
materials shaping a better and more sustainable future. The company develops
silicones, silicon products and carbon solutions by combining natural raw
materials, renewable energy and human ingenuity. Elkem helps its customers
create and improve essential innovations like electric mobility, digital
communications, health and personal care as well as smarter and more sustainable
cities. With a strong track record since 1904, its global team of more than
7,300 people has a joint commitment to stakeholders: Delivering your potential.
In 2022, Elkem achieved an operating income of NOK 45.9 billion and CDP ratings
of A- on climate and forest. Elkem is listed on the Oslo Stock Exchange (ticker:
ELK), where the company is also included in the ESG Index. www.elkem.com