US ferrosilicon and silicon metal producernGlobe Specialty Metals and its subsidiarynQSI Partners were the winning bidders fornthe assets of bankrupt Canadian siliconnproducer Timminco and its subsidiarynBecancour Silicon with a bid of C$31.88nmillion (US$32.34 million) Globe saidnThursday. The assets were sold in annauction process that began on Tuesday.nThey include various assets of BecancournSilicon, including its 51% stake in QuebecnSilicon Limited Partnership, which owns ansilicon metal plant in Becancour, Quebec.nThe plant produces about 47,000 mtyear of silicon metal, Globe said. QSI hadnpreviously provided US$4.25 million debtor-nin-possession financing to BecancournSilicon, which will be repaid with interestnand applied to the cash purchase price.nTimminco filed for bankruptcy protection onnJanuary 3, 2012, blaming low silicon metalnprices and poor timing of its re-entry intonthe solar silicon market.
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