Bluestar Completes Strategic Acquisition of Elkem’s Core Silicones Assets

China National Bluestar (Group) Co., Ltd. (hereinafter referred to as Bluestar) announced on April 30 that it has formally completed the closing of its previously signed agreement to acquire the core silicones business assets from Elkem ASA (hereinafter referred to as Elkem).

The transaction was settled through the cancellation of all Elkem shares held by Bluestar. Following the transaction completion, Bluestar no longer holds any shares in Elkem, and has achieved the strategic integration of Elkem’s core silicones business assets.

With the closing, Bluestar will immediately launch full-scale integration of the silicones assets, covering key areas including production and operations, R&D, marketing channels and supply chain management. The integration aims to ensure business continuity and consistent customer service standards, while advancing integrated synergy across the silicones industrial chain.

The asset integration is expected to strengthen Bluestar’s global production capacity, technological portfolio and cost competitiveness in the silicones market. The company will increase R&D investment in green processes, high-end applications and the circular economy to enhance its sustainable operations. In overseas markets, Bluestar will continue its international development strategy and step up investment in key regional markets, laying a solid foundation for sustainable growth and strategic synergy in the future.

About Bluestar

China National Bluestar (Group) Co., Ltd., a subsidiary of Sinochem Holdings Corporation Ltd., is a world-leading provider of advanced chemical materials and specialty chemicals.

Bluestar is a global, innovation-driven enterprise. It has profound technological expertise, a global footprint and proven experience in operating complex cross-border industrial platforms. Committed to innovation-led development, the company is dedicated to providing sustainable solutions to global customers and creating a better life.