(Stock Exchange Release)
Kemira Oyj has concluded the evaluation of strategic alternatives for
its business unit Pigments. Based on the review, Kemira will remain
the owner of Pigments and continue to run it as part of the Kemira
Specialty business area along with the ChemSolutions and Chemidet
businesses. Evaluation process continues for Chemidet business unit.
The ChemSolutions business unit will not be integrated into Kemira
Pulp&Paper as earlier stated but will instead rejoin the Kemira
Specialty business area. Kemira Group will continue to report
quarterly results according to its previous reporting structure,
where Kemira Specialty consists of Pigments, ChemSolutions and
Chemidet."The preliminary outcome of our evaluation process showed that the
market value for Pigments business unit in the current business and
financial environment does not correspond to the real value of the
business. Therefore we decided to stop the evaluation process and
concentrate on improving the profitability and cash flow of
Pigments," states Esa Tirkkonen, deputy CEO of Kemira."Business unit ChemSolutions is in a dynamic development phase and we
can steer its development in best possible way within Kemira
Specialty business area", Tirkkonen says. "Pigments is a good
business and I believe that our decision is the best way to continue
to deliver the shareholder value", he continued.
Kemira Oyj
Timo Leppä, Executive Vice President, Group Communications
For further information, please contact:
Kemira Oyj
Esa Tirkkonen, Deputy CEO, Phone +358 10 862 1500
Timo Leppä, Executive Vice President, Group Communications, Mobile
+358 50 301 6800
Kemira is a chemicals group made up of four business areas: Kemira
Pulp&Paper, Kemira Water, Kemira Specialty and Kemira Coatings.
Kemira is a global group of leading chemical businesses with a unique
competitive position and a high degree of mutual synergy.
In 2006, Kemira recorded revenue of around EUR 2.5 billion and had a
payroll of 9,000 employees. Kemira operates in 40 countries.
www.kemira.com
