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Oslo (AFP) Jan 11, 2011 Major silicon producer China National BlueStar is to purchase Norwegian competitor Elkem for two billion dollars (1.5 billion euros), the Norwegian firm's parent company Orkla said Tuesday. The purchase is the first major deal between the two countries since the Nobel Peace Prize was awarded in October to Chinese dissident Liu Xiaobo, a choice that angered the Chinese government. "With this transaction BlueStar will strengthen its competitiveness in the silicon industry and broaden its footprint in adjacent markets," Orkla and BlueStar said in a joint statement. Orkla confirmed Monday it was in talks with China's top silicon producer, leading Norway's trade minister Trond Giske to express hope that ties between the two countries would improve following differences over the Nobel award.
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Chinese silicon group aims to buy Norway's ElkemOslo (AFP) Jan 10, 2011 Norwegian conglomerate Orkla said Monday it was in talks to sell its metals company Elkem to a Chinese silicon company, reportedly for up to two billion euros ($2.6 billion), a sign of easing tensions between the two countries since the 2010 Nobel Peace Prize. "Orkla ASA hereby confirms that it is in negotiations with China National Bluestar regarding a possible sale of Elkem AS' silicon-rel ... read more |
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