Arion Bank’s shareholdings in non-banking operations

Information on the companies listed below can be obtained by Arion Bank’s Corporate Finance division (fyrirtaekjaradgjof@arionbanki.is).

Stakksberg ehf. (100%)

Stakksberg operates a plant in Helguvík in south-west Iceland which produces 99% pure silicon (Si), and it has a production capacity of 25,000 tonnes a year. Stakksberg is taking measures to make the plant fully operational. The plant has not been operational since September 2017 when it was closed down by the Environment Agency of Iceland. A fully operational plant, with around 70 employees, is expected to open in the second half of 2020. The process of selling Stakksberg has been delayed, not least due to the complex regularly framework around operations, but the Bank is continuing to prepare the sale of the plant.