Elkem ASA has acquired KeyVest Belgium S.A to expand its product portfolio and strengthen its position within the refractory materials market.

Target Information

Elkem ASA has finalized an agreement to acquire KeyVest Belgium S.A, a leading specialist in the sourcing of materials and the production of metal powders for the refractory industry, as well as other sectors including advanced ceramics. This acquisition aims to broaden Elkem's product portfolio while establishing a solid platform for further business growth.

Founded in 2007, KeyVest operates as an independent processing and milling firm focused on silicon carbide and silicon metal powders. The company is also engaged in the distribution of various related products such as ferrosilicon nitride, fused silica, boron carbide, and aluminium powder. With approximately 140 customized products tailored to client specifications, KeyVest generates annual revenues close to NOK 100 million, placing a strong emphasis on cultivating long-term customer relationships.

Industry Overview in Belgium

The refractory materials industry in Belgium plays a pivotal role in various high-temperature processes, particularly in sectors such as steel, cement, and aluminum production. This industry is characterized by its focus on innovation and ef