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Fiat Industrial SpA is interested in acquiring Volkswagen AG?s stakes in MAN SE and Scania AB should VW put the holdings up for sale, Fiat SpA?s top executives said.

Fiat eyes VW?s MAN, Scania stakes

Fiat Industrial SpA is interested in acquiring Volkswagen AG?s stakes in MAN SE and Scania AB should VW put the holdings up for sale, Fiat SpA?s top executives said. ?We?re not a seller of assets but at Fiat we are potentially acquirers, if Volkswagen wants to divest its truck assets,? Fiat SpA CEO Sergio Marchionne said at the Detroit auto show on Monday. Spokesmen for VW, MAN, Scania all declined to comment. VW, Europe?s largest carmaker, has repeatedly expressed interest in buying Turin, Italy-based Fiat?s Alfa Romeo, with Fiat saying the luxury brand isn?t for sale. VW chairman Ferdinand Piech said in September the German company was ?monitoring? Fiat?s plans for Alfa Romeo. VW CEO Martin Winterkorn told reporters at the Detroit auto show yesterday Alfa Romeo is a ?nice and interesting? company. ?They?ve been clear about their ambition in the car industry,? Fiat chairman John Elkann said. ?If they want to concentrate, focusing on that, then we?re interested in helping them? by buying MAN and Scania, he said.

BlueStar buys Orkla?s Elkem divisions for $2 bn

China National BlueStar, a chemicals producer backed by Blackstone Group LP, agreed to buy divisions of Elkem from Orkla ASA for $2 billion in cash. BlueStar will acquire Elkem?s silicon materials, foundry products, carbon and solar divisions, Oslo-based Orkla said on Tuesday in a statement. Orkla will retain its shares in Elkem Energi AS, including the 85% interest in AS Saudefaldene. Orkla, whose businesses range from frozen pizzas to renewable energy, is divesting solar assets as it increases its focus on branded consumer goods and aluminum products, while cutting debt. The acquisition adds silicon assets to Bluestar?s Lyon, France-based BlueStar Silicones International, which owns 10 production sites with annual sales of $650 million.

TSMC and Centrosolar sign solar module deal

Top contract chipmaker TSMC and Germany?s Centrosolar Group AG have signed a solar module manufacturing agreement as part of TSMC?s efforts to diversify into the fast growing solar market. Under the agreement announced on Tuesday, Centrosolar will be the exclusive European maker of crystalline solar modules for TSMC, TSMC said in a statement. It declined to give financial terms. Centrosolar will supply TSMC with an initial module capacity of 100 mw per year using solar cells provided by TSMC, and the first deliveries under the agreement are due in the third quarter of 2011. TSMC and other technology firms in Taiwan are pushing into the global solar energy market as they leverage their expertise in chip and LCD manufacturing and eye new growth prospects beyond maturing chip and panel businesses.

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First published on: 12-01-2011 at 00:08 IST
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