Akranes, 1 June 2019: Today, Elkem Iceland celebrates its 40-year anniversary. The plant, located in Akranes – 40 kilometers north of the capital of Reykjavik (IS), is one of the world’s largest ferrosilicon plant in the world, focused on sustainable production of high quality, specialty ferrosilicon.

Elkem’s result for the third quarter was strong, despite being affected by maintenance stops and weaker market prices for its main products. The result was significantly stronger than the corresponding quarter last year, but weaker than the second quarter this year. All divisions reported stronger results compared to third quarter 2017.

Tor Henrik Haavik enters the role as Sales Director in Steinsvik AS. Haavik has an engineering education from Høgskolen i Haugesund and has been employed in Steinsvik since 2002. Haavik comes from the position of Sales Manager Export, and has during his time in Steinsvik also had other roles in Sales and Project.

AKVA group completed fourth quarter with record high sales and order intake. The revenue in fourth quarter of 2016 ended on 449 MNOK (344 MNOK) with an EBITDA of 24 MNOK (27 MNOK). Fourth quarter EBITDA margin was 5.3% (7.9%). EBITDA in the quarter hampered by material restructuring cost of 19.9 MNOK related to AKVA group Denmark.

An experienced team of shipping, offshore and finance professionals are announcing the intention to establish Maritime & Merchant Bank (“M&M’’) a niche financial institution dedicated to meeting the funding needs of owners active in the shipping and offshore industries, worldwide.