Dow Corning Corporation has entered into an agreement to acquire a 49 percent ownership interest in Timminco Limited's silicon metal manufacturing facility in Bécancour, Quebec, in a transaction estimated at $39.7 million. The transaction is expected to be completed on or about September 30, 2010. To complete the transaction, Dow Corning and Timminco will form a joint venture that will consist of the existing silicon metal operations of BécancourSilicon Inc., a wholly owned subsidiary of Timminco. The Bécancour site will initially produce 47,000 metric tons of silicon metal, of which Dow Corning will receive 49 percent.

[Read More...]