Elkem AS is one of the world’s leading producers of environmentally-friendly chemical materials. Its main products are silicon, solar-grade silicon, special alloys for the foundry industry, carbon, and microsilica. Elkem AS specifically focuses on climate-related issues that drive new technology, with a big commitment to support the chemical needs of the solar industry.
In 2011, the company was wholly-acquired by a Chinese group within the chemical and material industry. As a result of the acquisition, Elkem AS had to adapt to new financial reporting and analysis requirements, in line with the new owner’s operating procedures. The company also had to collect data in several business areas that had not previously been involved in reporting or analysis.
The company employed Oracle Hyperion Financial Management to support forecasting and reporting requirements as required by the new owner, enabling advanced analytics. As important, the company was able to easily integrate its current reporting model with the solution to ensure internal operations continued to run smoothly.