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Elkem plans to acquire China silicone elastomer and silicone company

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Recently, Elkem announced that it has reached an agreement with Guangdong Polymer Technology Co., Ltd. to acquire all shares of the latter. The acquisition is pending final regulatory approval and is expected to be completed by the end of the first quarter of 2020.

The two sides have now reached an agreement on the enterprise value of the aggregate shares, which is expected to reach 941 million yuan, including potential earnings, depending on pre agreed parameters.

Poly stock is a Chinese manufacturer of silicone elastomer and silicone resin materials, occupying a strong position in the market of infant care, food grade silicone, electronic products and medical devices. After the completion of the acquisition, Elkem and aggregator will combine their complementary advantages in terms of products and market position to further lay a solid foundation for the company's specialization strategy and business growth in China and the world

Poly stock is a private enterprise, located in Zhongshan City, Guangdong Province, China, with more than 400 employees. The company is in a leading position in R & D and production of high temperature vulcanized silicone rubber (HCR), liquid silicone rubber (LSR), special silicone resin and pressure sensitive adhesive (PSA). The company has two production bases and a research and development center with more than 50 scientific and technical personnel. In the whole year of 2019, it is estimated that the total operating revenue of aggregate shares is RMB 612 million and the EBITDA is RMB 110 million.

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