Arion Bank and PCC Conclude Talks Over Sale of Silicon Plant Skip to content

Arion Bank and PCC Conclude Talks Over Sale of Silicon Plant

By Erik Pomrenke

Stakksberg Silicon Plant Helguvík.
Photo: Stakksberg Silicon Plant in Helguvík..

Arion Bank and PCC BakkiSilicon have concluded their talks over the sale of the silicon plant in Helguvík.

The fate of the Reykjanes silicon plant has been up in the air since the 2018 bankruptcy of former owner United Silicon, with many local residents concerned about the environmental impact of the facility. In wake of the talks ending, Arion Bank has cancelled the utility contract with Landsvirkjun, most likely meaning that the plant is now slated to be repurposed or possibly relocated.

Since the bankruptcy, extensive renovations to the plant were planned, with increased sustainability a major priority. There has been some interest in investors acquiring the plant, and Arion Bank has looked for potential buyers with experience in the industry.

Since the beginning of this year, Arion Bank has been in talks with PCC, an international silicon manufacturer with a facility in Bakki, near Húsavík in North Iceland. The PCC facility is also notable for its use of green technologies and has existed alongside the Húsavík community without problems.

PCC is said to have presented ambitious renovation plans for the Helguvík plant, but despite this, talks have fallen through, and Arion is now looking to sell and repurpose the facility.

Benedikt Gíslason, director of Arion Bank, stated to Vísir: “The story of the Helguvík silicon plant is well-known. We consider it our duty to make the best use of the infrastructure and everything that has been invested into it. We’ve looked to all stakeholders, including the residents of Reyjanesbær, who were negatively impacted by its operation.”

Read the official statement from Arion Bank here.

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