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Elkem ASA ( (ELKEF) ) has issued an announcement.
Scope Ratings has placed Elkem ASA’s BBB- issuer rating under review for a potential upgrade following Elkem’s strategic review of its Silicones division, which may involve a sale. This strategic move aims to streamline Elkem’s operations and reallocate capital to its Silicon Products and Carbon Solutions divisions, potentially improving profitability and financial metrics, though it might reduce sales and diversification.
More about Elkem ASA
Elkem ASA is a leading global provider of advanced silicon-based materials, focusing on creating sustainable solutions across various sectors such as electric mobility, digital communications, and sustainable urban development. The company develops silicones, silicon products, and carbon solutions, leveraging natural raw materials and renewable energy. Elkem has been operational since 1904 and is listed on the Oslo Stock Exchange, with a strong commitment to sustainability as shown by its high CDP ratings.
YTD Price Performance: 29.03%
Average Trading Volume: 2,000
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.26B
Learn more about ELKEF stock on TipRanks’ Stock Analysis page.
