Mar. 11, 2026 - Elkem ASA (“Elkem” or the “Company”) is further strengthening the Company’s competitiveness and financial resilience by introducing a new corporate structure and reducing working capital and annual costs following the approval of the announced Silicones transaction. These cash optimising measures amount to NOK 1.3 billion, in addition to permanent cost reductions with an annual effect of NOK 0.6 billion starting from third quarter 2026. The cost reductions form a part of Elkem’s efforts to streamline operations and are aimed at enhancing profitability amid ongoing market challenges.

New corporate structure
On 13 February 2026, Elkem announced the agreement to sell majority of the Silicones division to Bluestar to create a focused, globally-leading metals and materials producer. Following this transaction, Elkem is unveiling a new corporate structure, composed of three divisions: Elkem Silicon, Elkem Foundry Alloys and Elkem Carbon.

Elkem Silicon will be led by SVP Luiz Simão. The division will be a global producer and provider of silicon, ferrosilicon, Silgrain® silicon, Elkem Microsilica®, and quartz, and will be composed of eight main production sites in Norway, Iceland, and Spain, including a silicones production site in France.

Elkem Foundry Alloys will be led by SVP Inge Grubben-Strømnes. The division will be a globally-leading provider of foundry alloys and composed of seven production sites in Norway, Canada, China, Paraguay, United Kingdom, and India.

Elkem Carbon will be led by SVP Izaias Entringer. The division is a world leading supplier of electrode paste and other carbon products to metallurgical industries, and will be composed of six main production sites in Norway, Slovakia, Brazil, China, and South Africa.