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Elkem ASA ( (ELKEF) ) has provided an announcement.
Elkem ASA is reshaping its business following the agreed sale of most of its Silicones division to Bluestar, creating a focused metals and materials group built around three divisions: Elkem Silicon, Elkem Foundry Alloys, and Elkem Carbon. Each division will be led by new senior vice presidents and anchored in a global network of production sites spanning Europe, Asia, and the Americas, underlining Elkem’s ambition to remain a leading supplier of silicon-based products and carbon solutions.
The company is pairing this structural overhaul with a major cost-reduction and cash optimisation programme in response to weak demand, price pressure, and macro uncertainty. Elkem plans to cut about 300 jobs, trim working capital and capex by NOK 1.3 billion, and secure annual cost savings of NOK 0.6 billion from the third quarter of 2026, measures that management says are crucial to bolster profitability and financial resilience until markets improve.
The most recent analyst rating on (ELKEF) stock is a Buy with a NOK32.10 price target. To see the full list of analyst forecasts on Elkem ASA stock, see the ELKEF Stock Forecast page.
More about Elkem ASA
Elkem ASA is a Norway-based producer of advanced silicon-based materials for global metallurgical and manufacturing industries. The company develops silicon, ferrosilicon, Silgrain silicon, microsilica, quartz, foundry alloys, and carbon products, leveraging renewable energy and natural raw materials to supply customers across Europe, the Americas, Asia, and Africa.
Average Trading Volume: 1,390,917
Current Market Cap: NOK18.44B
Learn more about ELKEF stock on TipRanks’ Stock Analysis page.