• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Printed Electronics
    • Raw Materials
    • Equipment
    • Services
    • Suppliers Guide
    • Resources
    • More
  • Magazine
  • News
  • Printed Electronics
  • Raw Materials
  • Equipment
  • Services
  • Suppliers Guide
  • Resources
  • Current & Past Issues
    Features
    Editorials
    Digital Edition
    Subscribe Now
    Advertise Now
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Breaking News
    Experts Opinion
    Financial News
    Manufacturers News
    Mergers and Acquisitions
    Online Exclusives
    Personnel
    Product Releases
    Suppliers News
    Live From Shows
    Displays and Lighting
    Photovoltaics
    Printed Batteries
    Printed Circuit Boards/Membrane Switches/In Mold Electronics
    Flexible and Printed Electronics
    RFID and NFC
    Sensors and Wearables
    Smart Cards and Packaging
    Touch Screens
    Adhesives, Barriers and Encapsulants
    Chemicals, Metals and Powders
    Conductive Inks and Coatings
    Electronic Materials
    Film, Paper, Glass and Substrates
    Graphene, Perovskites and Carbon Nanotubes
    Nanomaterials
    Printed Electronic Components
    Research Reports
    Semiconductors and Quantum Dots
    Energy Curing Equipment
    Lab and Testing Equipment
    Manufacturing Equipment
    Printing Equipment
    3D Printing
    Contract Manufacturing Services
    Product Design and Testing
    Research and Consulting
    Research Institutions
    Research Reports
    Universities
    Equipment
    All Companies
    Materials
    Categories
    Converting
    Printed Electronics Systems
    Associations
    Research and Services
    Used Machinery
    Add New Company
    Industry Events
    Live from show events
    Podcasts
    Videos
    Blogs
    Slideshows
    Infographics
    Webinars
    Whitepapers
    Equipment and Services
    Glossary
    • Magazine
      • Current & Past Issues
      • Features
      • Editorial
      • Columns
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Suppliers Guide
      • Add Your Company
      • Suppliers Guide
    • Printed Electronics
      • Photovoltaics
      • Printed Batteries
      • Printed Circuit Boards/Membrane Switches/In Mold Electronics
      • Flexible and Printed Electronics
      • RFID and NFC
      • Sensors and Wearables
      • Smart Cards and Packaging
      • Touch Screens
    • Raw Materials
      • Adhesives, Barriers and Encapsulants
      • Chemicals, Metals and Powders
      • Conductive Inks and Coatings
      • Electronic Materials
      • Film, Paper, Glass and Substrates
      • Graphene, Perovskites and Carbon Nanotubes
      • Nanomaterials
      • Semiconductors and Quantum Dots
    • Equipment
      • Energy Curing Equipment
      • Lab and Testing Equipment
      • Manufacturing Equipment
      • Printing Equipment
      • 3D Printing
    • Services
      • Contract Manufacturing Services
      • Product Design and Testing
      • Research and Consulting
      • Research Institutions
      • Research Reports
      • Universities
    • Online Exclusives
    • Slideshows
    • Blog
    • Videos
    • Podcasts
    • Infographics
    • Events
      • Industry Events
      • Live from show events
      • Webinars
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Breaking News

    REC Set to Join Forces with Norway-based Elkem Group

    REC shareholders support sale of business

    Related CONTENT
    • Universal Display Announces 1Q 2017 Financial Results
    • Universal Display Announces 1Q 2017 Financial Results
    • Evonik Drives Forward Sustainability Analysis of Its Business
    • Avery Dennison Increases Quarterly Dividend
    • Optomec 3D Printers at Grand Opening of U3DP Facility in Hong Kong
    01.16.15
    At an Extraordinary General Meeting on Jan. 15, 2015, REC’s shareholders approved to sell the business as the largest European supplier of solar panels worldwide and to combine with the Norway-based Elkem Group. The closing of the transaction is expected in early March 2015.
     
    Bluestar Elkem Investment is set to acquire REC Solar Holdings AS and all of the assets and liabilities of REC Solar at a cash purchase price of NOK 4,340 million ($573 million). Since 2011, the Norway-based Elkem Group is fully owned by China National Bluestar, which in turn is a joint venture between the conglomerate ChemChina and Blackstone.
     
    “We are pleased that the shareholders have voted in favor of this transaction, in accordance with the previous recommendation by the Board of Directors,” said Martin Cooper, CEO of REC. “We believe that a combination with the Elkem Group will provide a strong platform to further develop REC, with added strengths and new opportunities.”
     
    Elkem is keen to develop the existing organization of REC and to invest in further growth as a leading global brand in the solar industry. According to members of management, both companies are strongly committed to maintaining the high quality of REC’s solar panels, which far surpass stringent certifications, as well as to ensure REC warranties stay reliable. The basis for this industry-leading product quality will continue to be REC’s fully-automated integrated production plant in Singapore. Perhaps most importantly, customers can expect “business as usual.”
     
    Going forward, REC is expecting new business opportunities due to this transaction. As the Elkem Group is a leading supplier of silicon, REC can benefit from new synergies up-stream the value chain. The company’s strong strategic and financial position will be further strengthened due to improved access to financing, further boosting research and development, new technologies, production capacity and penetrating new markets in Asia such as China.
     
    “The Elkem Group and REC have developed a strong business relationship and there is a good strategic match between the companies, as both have a Norwegian corporate culture and heritage. The Elkem Group has a strategic goal to grow its presence in the solar industry. The ambition is to establish a leading integrated PV player,” said Helge Aasen, CEO of Elkem AS.
     
    Elkem is one of the world’s leading companies for environmentally-friendly production of materials. Its principal products are silicon, solar grade silicon, special alloys for the foundry industry, carbon products and microsilica. Elkem has 14 production facilities in Europe, North and South America, Africa and Asia, as well as an extensive network of sales offices and agents covering the most important markets. The Elkem Group employs about 2,100 people and is headquartered in Oslo, Norway. Aasen has been the CEO of Elkem AS since 2009, and is also member of Elkem’s Board. Operating revenues for the Elkem Group in 2013 were NOK 7.9 billion ($1 billion).
    Related Searches
    • solar
    • PV
    • solar panels
    Suggested For You
    Universal Display Announces 1Q 2017 Financial Results Universal Display Announces 1Q 2017 Financial Results
    Universal Display Announces 1Q 2017 Financial Results Universal Display Announces 1Q 2017 Financial Results
    Evonik Drives Forward Sustainability Analysis of Its Business Evonik Drives Forward Sustainability Analysis of Its Business
    Avery Dennison Increases Quarterly Dividend Avery Dennison Increases Quarterly Dividend
    Optomec 3D Printers at Grand Opening of U3DP Facility in Hong Kong Optomec 3D Printers at Grand Opening of U3DP Facility in Hong Kong
    Applied Materials Announces Cash Dividend Applied Materials Announces Cash Dividend
    Applied Materials Names Thomas Iannotti as Chairman of the Board of Directors Applied Materials Names Thomas Iannotti as Chairman of the Board of Directors
    Optomec Launches Asia Pacific Operations Center in Singapore Optomec Launches Asia Pacific Operations Center in Singapore
    NXP Shareholders Approve All Items Proposed Relating To Qualcomm’s Tender Offer NXP Shareholders Approve All Items Proposed Relating To Qualcomm’s Tender Offer
    BASF Leverages Growth Opportunities in Asia Pacific BASF Leverages Growth Opportunities in Asia Pacific
    Applied Materials, A*STAR to Advance R&D in Fan-Out Wafer-Level Packaging Applied Materials, A*STAR to Advance R&D in Fan-Out Wafer-Level Packaging
    Woodford Investment Management Invests USD 42 Million in Thinfilm Woodford Investment Management Invests USD 42 Million in Thinfilm
    Bluestar Elkem to Acquire REC Solar ASA Bluestar Elkem to Acquire REC Solar ASA
    REC Group Closes 300 MW Supply Agreements with Recurrent Energy REC Group Closes 300 MW Supply Agreements with Recurrent Energy

    Related Breaking News

    • Breaking News | Photovoltaics | Research Institutions
      Solar Prize Marks Milestone with Round 3 Winner, Round 4 Semifinalist Announcements

      Solar Prize Marks Milestone with Round 3 Winner, Round 4 Semifinalist Announcements

      US Office of Energy Efficiency and Renewable Energy Daniel R. Simmons announced Maxout Renewables and Wattch Inc. as the winners.
      Printed Electronics Now staff 01.12.21

    • Breaking News | Photovoltaics | Research Institutions
      SETO Awards NREL to Pursue National Solutions in Solar Integration

      SETO Awards NREL to Pursue National Solutions in Solar Integration

      With funds awarded from the Department of Energy's Solar Energy Technologies Office, NREL will pursue projects designed to advance integration of solar energy.
      Printed Electronics Now Staff 01.06.21

    • Breaking News | Photovoltaics
      ARMOR Publishes Its 10th Annual CSR Report

      ARMOR Publishes Its 10th Annual CSR Report

      Socially responsible innovation is seen as their business model.
      Printed Electronics Now Staff 01.05.21


    • Breaking News | Photovoltaics
      Meyer Burger Receiving Up to €22.5 Million in Public Funding

      Meyer Burger Receiving Up to €22.5 Million in Public Funding

      Building environmentally friendly solar cell production.
      Printed Electronics Now staff 01.04.21

    • Breaking News | Photovoltaics
      Midsummer Appoints Nominating Committee

      Midsummer Appoints Nominating Committee

      For the company's June 4, 2021, AGM.
      Printed Electronics Now staff 01.01.21

    • Breaking News | Photovoltaics | Research Institutions
      Tri-Lab Initiative Leads Innovation in Novel Hybrid Energy Systems

      Tri-Lab Initiative Leads Innovation in Novel Hybrid Energy Systems

      Novel concepts to simultaneously leverage diverse energy generators – including renewable, nuclear, and fossil with carbon capture – to provide power, heat.
      Printed Electronics Now staff 12.24.20


    • Breaking News | Graphene, Perovskites and Carbon Nanotubes | Photovoltaics
      Oxford PV Hits New World Record for Solar Cell

      Oxford PV Hits New World Record for Solar Cell

      Oxford PV produced cell independently proven to convert 29.52% of solar energy into electricity.
      Printed Electronics Now staff 12.22.20

    • Breaking News | Graphene, Perovskites and Carbon Nanotubes | Photovoltaics
      NREL Research Takes Safety Issues into Account for Perovskite Production

      NREL Research Takes Safety Issues into Account for Perovskite Production

      Newly published research points to the safest choices for solvents needed to make perovskite solar cells.
      Printed Electronics Now staff 12.11.20

    • Breaking News | Personnel | Photovoltaics
      New Sales Focus to Midsummer’s Management Team

      New Sales Focus to Midsummer’s Management Team

      Christoffer Löfquist, business area manager solar panels, added to the company’s management team.
      Printed Electronics Now staff 12.11.20


    • Breaking News | Manufacturing | Photovoltaics
      Meyer Burger Reaches Agreement with Photovoltaic Manufacturer EcoSolifer

      Meyer Burger Reaches Agreement with Photovoltaic Manufacturer EcoSolifer

      Drew a line under a 2015 project, which included delivery of an earlier generation heterojunction cell line for the manufacturing plant in Csorna, Hungary.
      Printed Electronics Now staff 12.10.20

    • Breaking News | Photovoltaics
      Midsummer Applies for Establishment Support from Invitalia

      Midsummer Applies for Establishment Support from Invitalia

      The finished plant will make Midsummer the largest producer of CIGS solar panels in Europe.
      Printed Electronics Now staff 12.09.20

    • Breaking News | Photovoltaics | Research Institutions
      imec: Critical Failure Modes in Bifacial Photovoltaics Technology

      imec: Critical Failure Modes in Bifacial Photovoltaics Technology

      Potential-induced degradation is one of the most critical failure modes in (bifacial) photovoltaic systems.
      Eszter Voroshazi, Michaël Daenen, Group leader of the PV module and system activities at imec and Assistant Professor of Engineering Technology at Hasselt University 12.09.20


    • Breaking News | Photovoltaics
      ARMOR Solar Power Films Wins German Sustainability Award

      ARMOR Solar Power Films Wins German Sustainability Award

      The German Sustainability Award honors the best contributors in the fields of climate, resources, biodiversity and society.
      Printed Electronics Now staff 12.08.20

    • Breaking News | Photovoltaics
      Midsummer, Imperalum Providinging Solar Integrated Roofs to Spanish, Portuguese Customers

      Midsummer, Imperalum Providinging Solar Integrated Roofs to Spanish, Portuguese Customers

      Imperalum will also install the Midsummer SLIM solar panel on its facility in Montijo, Portugal.
      Printed Electronics Now staff 12.08.20

    • Breaking News | Photovoltaics | Research Institutions
      Wells Fargo Invests $20 Million to Extend IN2 Incubator Program Through 2024

      Wells Fargo Invests $20 Million to Extend IN2 Incubator Program Through 2024

      Innovation Incubator expands technology focuses, number of start-up companies.
      Printed Electronics Now staff 12.03.20

    Trending
    • Most Intriguing Flexible, Printed Electronics Products Of 2020
    • Nathan Winters Appointed Zebra Technologies CFO
    • Global Printed, Flexible, Hybrid, Textile Electronics Community Gathers Online
    • Rajita D’Souza Appointed STMicroelectronics President, HR, And CSR
    • Roadsimple Modernizes Warehouse Ops With Zebra Technologies
    Breaking News
    • Farmacorp Selects Zebra Technologies, Reflexis Systems to Modernize On-site Store Audits
    • Sensormatic Solutions Debuts VisionWorks at NRF 2021
    • Veridos Paves Way for Secure, Autonomous Border Crossing
    • Rajita D’Souza Appointed STMicroelectronics President, HR, and CSR
    • Phiaro Corporation Incorporates TactoTek IMSE Smart Surfaces into Customer Projects
    View Breaking News >
    CURRENT ISSUE

    Fall 2020

    • Flexible Electronics Is Proving to Be Ideal for Healthcare
    • COVID-19 and the Printed Electronics Industry
    • Smart Packaging Looks to Move Forward
    • Electronic & Conductive Ink Conference Showcases Future of Ink Technology
    • Printed Electronics Now’s International Suppliers’ Directory
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    NSF Begins New Certification Program
    Eriocitrin Shown to Have Metabolic Benefits in Recent Study
    EverGrain Introduces Sustainable Barley Ingredients
    Coatings World

    Latest Breaking News From Coatings World

    Zeppelin Acquires MTI Mischtechnik
    Ezio Braggio Joins ChemQuest Europe
    IFS Coatings Announce Carbon Offset Program
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    Optimize EP Launches CaRM Cardiac Device Data Management Platform
    U.S. TAVR Market Projected to Reach Nearly $5 Billion by 2030
    FDA Clears Canon Medical's Compressed SPEEDER for 3D Exams on 1.5T MR
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Frontage Bolsters Clinical Services Capabilities
    Sanofi Unveils EUROAPI as Name of New European API Company
    Thermo Fisher Buys Novasep's Viral Vector Manufacturing Biz
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    W.S. Badger is Named a ‘150 Top Impact Company’
    Mana Products, Meiyume and RPG Form The Vertical Beauty Alliance
    The Estée Lauder Companies Appoints SVP, New Business Development
    Happi

    Latest Breaking News From Happi

    Amyris Named a Top Social & Environmental Impact Company
    L'Oréal Bans Animal Hair in Brushes
    Ashland Launches Antaron ECo Gel
    Ink World

    Latest Breaking News From Ink World

    dar-tech, inc. Becomes U.S. Midwestern Distributor for ZS Interpolymer
    Techkon USA, Konica Minolta Partner
    Alon Bar-Shany Appointed Chairman of Highcon Board
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    Exhibitor registration opens for virtual.drupa
    FTA planning in-person Forum & INFOFLEX
    Fortis Solutions Group achieves SGP certification
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Shemesh Adds U.S. Headquarters
    TZMO USA, Special Needs Group Form Partnership
    BAHP Announces 2021 Officers, Board of Directors
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    Rapid Recovery Protocol Can Lead to Increased Range of Motion After TKA
    Boston Scientific Releases WaveWriter Alpha Spinal Cord Stimulators in U.S.
    New Chief Clinical Officer on Board at IncludeHealth
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    Roadsimple Modernizes Warehouse Ops with Zebra Technologies
    SOI Industry Consortium Joins SEMI as Strategic Association Partner
    Farmacorp Selects Zebra Technologies, Reflexis Systems to Modernize On-site Store Audits

    Copyright © 2021 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login