Flexible Electronics News

REC Set to Join Forces with Norway-based Elkem Group

REC shareholders support sale of business

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By: DAVID SAVASTANO

Editor, Ink World Magazine

At an Extraordinary General Meeting on Jan. 15, 2015, REC’s shareholders approved to sell the business as the largest European supplier of solar panels worldwide and to combine with the Norway-based Elkem Group. The closing of the transaction is expected in early March 2015.   Bluestar Elkem Investment is set to acquire REC Solar Holdings AS and all of the assets and liabilities of REC Solar at a cash purchase price of NOK 4,340 million ($573 million). Since 2011, the Norway-based Elkem Group ...

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