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Hitt og þetta 27. október 2006

Norwegian multi-sector group Orkla ASA invests NOK2.7bn in solar cell silicon plant

Nordic Business Report-October 27, 2006-Norwegian multi-sector group Orkla ASA invests NOK2.7bn in solar cell silicon plant
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Norwegian multi-sector group Orkla ASA said on Friday (27 October) that Elkem Solar, part of Orkla's metals and materials business Elkem, will build a solar cell silicon plant at its Elkem Fiskaa silicon plant in Kristianstad.

The NOK2.7bn plant will initially manufacture 5,000 tonnes of solar grade silicon per year, and will create 140-150 new jobs. Deliveries are scheduled to start in mid-2008.

"The construction of the plant in Kristiansand is the result of long-term technology development and the necessary know-how to industrialise new technology," commented John G Thuestad, managing director of Elkem.

"It is also a milestone for Elkem as a company, which is now entering a rapidly growing market driven by the increasing demand for renewable energy," Thuestad added.

Orkla also said that Elkem has already secured a four-year contract for approximately half of the new plant's production volume.

Orkla Group is one of the largest companies in Norway. Its core business areas are branded consumer goods, speciality materials and financial investments. The group has 27,000 employees and reported revenues of NOK55bn in 2005. Orkla is listed on the Oslo Stock Exchange.

One British pound (GBP) is worth approximately 12.48 Norwegian kroner (NOK).

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