Elkem ASA, based in Oslo, Norway, announced Monday it will sell its Alloy silicon plant, and has an option to sell the plant’s hydroelectric facility, according to a published story by the Associated Press.

Elkem announced the $130 million deal as part of the company’s plan to restructure its silicon metals operations, the AP reported.

The plant, located on the Kanawha River in Alloy, would be sold to Beverly, Ohio-based Globe Metallurgical Inc., the company said in a news release.

Investment firm D.E. Shaw and Co. has an option to purchase the hydroelectric facility, which is located on the New River on Gauley Mountain, the AP said. The facility produces about 500 gigawatts of electricity annually.

The deals are expected to be completed by next summer, the report said.

According to the AP, Elkem has about 175 hourly workers who are members of the Paper, Allied-Industrial, Chemical and Energy Workers Union. Union and Elkem officials were meeting on Monday and were not immediately available for comment.

Earlier this year, the employees approved a new contract that contained wage and benefit increases.

Elkem said the plant has a capacity of 70,000 tons per year of silicon metals, which are used in a variety of products, the AP said. The Norwegian company purchased the plant from Union Carbide in 1981.

Elkem has about 11,000 employees worldwide and is a major producer of aluminum, silicon metal, ferrosilicon for steel and iron foundries, carbon products and microsilica. It has plants in seven countries.

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