01 October 2010 20:19 [Source: ICIS news]
In a $40m (€29m) deal, US silicones major Dow Corning had taken a 49% stake in Quebec Silicon Limited Partnership, a newly-formed entity that owns silicon metal production operations at ?xml:namespace>
The remaining 51% would be held by Timminco subsidiary Becancour Silicon, it said.
Dow Corning would also provide a $10m revolving credit facility to the joint venture to help fund working capital requirements, Timminco said.
Quebec Silicon would be managed by Becancour Silicon’s staff under Rene Boisvert as CEO, it added.
($1 = €0.73)
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