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What: Shares of silicon metals specialist Globe Specialty Metals
So what: The company just announced plans to build a "world class, low cost" silicon metal plant in Iceland, due to open for operations in mid-2013. This new facility will increase Globe Specialty's silicon metal manufacturing capacity by approximately 40%, which opens up a larger addressable market for the company.
Now what: This plant is no flash in the pan, as partner firm Tomahawk Development has been working on permits and site preparation for the past four years. Silicon metal is used by aluminum producers, the chemical industry, and by solar panel and semiconductor makers -- including a longstanding, high-volume relationship with Dow Corning, which is a silicon products venture between Dow Chemical
Interested in more info on Globe Specialty Metals? Add it to your watchlist.
Fool contributor Anders Bylund holds no position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.