Orkla Materials

Progress in energy and silicon

The first half of 2008 saw strong markets and increased profitability for Elkem's silicon-related business, while demand declined towards the end of the year. By the end of 2008 Elkem Solar's plant was mechanically completed and the start-up programme commenced. In December, Elkem and Alcoa concluded an agreement to exchange assets in the two jointly owned companies Sapa Profiles and Elkem Aluminium. With that, Elkem exits its business within primary aluminium.

Borregaard faced challenging market conditions in the second half of 2008 which, coupled with high raw material prices, weakened profitability for the chemicals business. The plants in Switzerland and Finland were closed down during the year. The energy business achieved a substantial profit improvement.

Nøkkeltall

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Operating revenues	NOK 13.600 million
EBITA¹	NOK 1.373 million

Business area

Elkem is one of the world leaders in the environment-friendly manufacture of metals and materials. Its main products are energy, silicon, special ferrosilicon alloys for the foundry industry, carbon and microsilica. Elkem also invests heavily in the solar industry. The company has production facilities in Europe, North and South America, Africa and Asia, and an extensive network of sales offices in its main markets.

Borregaard has one of the world's most advanced biorefineries and is a leading manufacturer of chemicals, materials and fuel based on renewable biomass. The company also holds attractive positions in the ingredients, fine chemicals and energy markets, with production facilities and sales offices in 20 countries.

Elkem is one of the world leaders in the environment-friendly manufacture of metals and materials.

Borregaard has one of the world's most advanced biorefineries and is a leading manu-facturer of chemicals, materials and fuel based on renewable biomass.

EBITA

¹ Excluding acquisitions, divestments and currency translation effects.