Key Events Affecting Business Performance
Acquisitions and Investments
In September 2019, WACKER invested in UK battery specialist Nexeon, acquiring a 25-percent stake. Nexeon develops, produces and markets innovative silicon-based anode materials that considerably boost the performance of lithium-ion batteries. WACKER has been collaborating with Nexeon on battery research since 2013.
WACKER did not divest any business fields or product business in 2019.
Capital expenditures decreased year over year, as planned. They amounted to €379.5 million in the reporting year (2018: €460.9 million).
The focus of WACKER’s investing activities was on our three chemical divisions, with several projects in different countries. In 2019, our Charleston site in Tennessee (USA) finished constructing a pyrogenic-silica facility, which came onstream in October. In Zhangjiagang (China), we built a new plant for solid silicone rubber, which started up in June 2019 and has since produced several thousand metric tons for the Asia-Pacific region. Our Ulsan site in South Korea also completed its new spray dryer for dispersible polymer powders, which has been onstream since September 2019. The site in Holla (Norway) completed the expansion of its silicon-metal manufacturing facilities, with the new furnace starting production in November 2019. WACKER also invested in a series of small- and medium-scale projects for intermediates and downstream products, and in infrastructure measures at our fully integrated sites in Burghausen and Nünchritz.