Wacker Siltronic planning IPO?

January 30, 2004 – Wacker Chemie is reportedly planning an initial public offering for its Wacker Siltronic business by later this year or in 2005, according to published media reports.

The 500 million euro/year operations were spun off into a separate entity in late 2003. The money obtained from the sale of Wacker Siltronic is expected to be invested in the parent company’s chemicals business in China, with jobs to be relocated there as well.

Wacker also is facing a lawsuit from Aventis, which is seeking to withdraw from its participation in a JV with Hoechst and Wacker. The company claims Wacker purchased a majority of the firm but has not pursued the remaining 49% ownership.


Easily post a comment below using your Linkedin, Twitter, Google or Facebook account. Comments won't automatically be posted to your social media accounts unless you select to share.