Elkem signs letters of intent and showcases top technologies and products at China International Import Expo 2020

STOCKHOLM, Nov. 6, 2020 /PRNewswire/ -- Elkem, one of the world's leading suppliers of silicon-based advanced materials, is showcasing its wide range of innovative technologies and solutions at the 3rd China International Import Expo (CIIE) 2020 in Shanghai, China. The company is signing letters of intent with three Chinese customers.

"China is the most important market for Elkem Silicones. After the initial impact of Covid-19, we now see demand recovering strongly. More than 50 percent of Elkem's employees are based in China. While ensuring the safety of our employees, we have made every effort to ensure the smooth supply of products to customers, and the revenue has also grown steadily," says Frederic Jacquin, Senior Vice President of Elkem Silicones.

"We are the largest silicones producer in China and our strategy is to continue to grow and develop high-end products supporting the dual circulation strategy which is to create products and solutions with a personal touch for our Chinese customers, but also for the rest of the world", says Jacquin.

During the CIIE 2020, Elkem Silicones has signed letters of intent with three Chinese customers, with a potential total contract value of more than NOK 1,3 billion (CNY 1 billion).

"Elkem Silicones has enormous confidence in the development of the Chinese market. The three new partners have signed a cooperation agreement with us, which fully reflects their trust in Elkem. We are looking forward to working with Chinese customers on advanced materials shaping the future", says Larry Zhang, Vice President of Elkem Silicones and Director of the Asia-Pacific region.

For the CIIE 2020, Elkem has doubled its booth space from 2019, presenting more than 30 innovative silicones solutions that meet the current and future needs of the Chinese market. Key application areas and products include:

• Personal protection: A non-slip, anti-fog and comfortable silicone mask, designed and developed to fight the pandemic (COVID-19);
• Electric vehicles: Elkem Silicones BLUESIL™ battery thermal conductive materials used by the world's top electric vehicle producers, and high-performance electronic thermal conductive material suited for charging piles;
• Architecture: A new generation of BLUESIL™ waterproof materials and energy-saving environment-friendly materials for buildings;
• 5G communications: 5G equipment sealing materials developed specially for the Chinese local market;
• Aerospace: Elkem SILGRAIN™ high-quality special silicon powder used by the Mars Exploration Rover satellite.

In addition, Elkem also presents several classic silicone products used in solar energy, agriculture and environmental protection at the CIIE.

Silicone is known as a catalyst in technological progress and social development. Elkem Silicones was among the first companies in the world to develop and produce silicone materials and silicone sealant. At CIIE, Elkem Silicones is showcasing its advanced solutions in the fields of smart travel, smart life, low-carbon environmental protection and clean energy.

Elkem also demonstrates its commitment to help boosting sustainable development of various industries and improve the quality of human life by providing cutting-edge materials.

About Elkem

Founded in 1904, Elkem is one of the world's leading suppliers of silicon-based advanced materials with operations throughout the value chain from quartz to specialty silicones, as well as attractive market positions in specialty ferrosilicon alloys and carbon materials. Elkem is a publicly listed company on the Oslo Stock Exchange (ticker code: ELK) and is headquartered in Oslo. The company has more than 6,700 employees with 31 production sites and an extensive network of sales offices worldwide. In 2019 Elkem had revenues of NOK 22.7 billion. To learn more, please visit www.elkem.com

For further information:

Odd-Geir Lyngstad, VP Finance & Investor Relations
Tel: +47 976 72 806
Email: [email protected]

Fredrik Norman, VP Corporate Communications & Public Affairs
Tel: +47 918 66 567
Email: [email protected]

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SOURCE Elkem