Elkem acquires REC Solar subsidiary, Norway.

Elkem, a Nordic silicon-based material supplier, is set to acquire REC Solar Norway from Reliance Industries' subsidiary REC Solar for $22 million. REC Solar Norway manufactures kerf-based polysilicon and had a turnover of approximately $106 million in 2022. The acquisition will include REC's industrial sites and facilities in Norway, including areas in the Fiskaa Technology Park in Kristiansand and the Herøya Industrial Park in Porsgrunn. The transaction is expected to close in April 2024, pending necessary approvals. The transfer does not include the technology and intellectual property rights related to kerf-based polysilicon. [Extracted from the article]