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2010.08.10
Dow Corning to Acquire a 49 Percent Stake in Quebec Silicon Metal Manufacturing Facility
Dow Corning Corporation has entered into an agreement to acquire a 49
percent ownership interest in Timminco Limited’s silicon metal manufacturing
facility in Bécancour, Quebec, in a transaction estimated at $39.7
million. The transaction is expected to be completed on or about
September 30, 2010.
To complete the transaction, Dow Corning and Timminco will form a joint
venture that will consist of the existing silicon metal operations of
BécancourSilicon Inc., a wholly owned subsidiary of Timminco. The
Bécancour site will initially produce 47,000 metric tons of silicon metal, of
which Dow Corning will receive 49 percent.
“This acquisition is well aligned with Dow Corning’s global strategy of
securing an efficient and sustainable supply of this critical raw material used
to manufacture all of our silicon-based products,” said Robert Hansen, Dow
Corning’s executive vice president and general manager of Core Products.
Dow Corning, a global leader in silicon-based materials, relies on silicon
metal as an essential raw material to manufacture nearly all of its more than
7,000 products. Silicon-based materials are important building blocks for
products in the construction, personal care, life sciences, energy, automotive
and electronics industries, among others.
About Dow Corning
Dow Corning provides performance-enhancing solutions to serve the diverse
needs of more than 25,000 customers worldwide. A global leader in silicones,
silicon-based technology and innovation, Dow Corning offers more than 7,000
products and services via the company’s Dow Corning® and
XIAMETER® brands. Dow Corning is equally owned by The Dow Chemical
Company and Corning, Incorporated. More than half of Dow Corning’s annual sales
are outside the United States. Dow Corning’s global operations adhere to the American Chemistry Council’s Responsible Care® initiative,
a stringent set of standards designed to advance the safe and secure management
of chemical products and processes.
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representatives.
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