“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.
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
