Kemira Oyj achieves a settlement with CDC in the damage claim litigation in Helsinki, Finland
ET | Source:Kemira Oyj
Stock Exchange Release
May 19, 2014 at 8.30 am (CET+1)
Kemira has signed an agreement with CDC Cartel Damage Claims Hydrogen Peroxide
SA and CDC Holding SA (together "CDC") to settle a lawsuit in Helsinki, Finland.
The settlement concerns claims assigned to CDC based on which CDC claimed
compensation for alleged damages relating to the alleged old infringement of
competition law in the hydrogen peroxide business during 1994-2000. CDC has
agreed to withdraw the damage claims and Kemira has agreed to pay to CDC a
compensation of EUR 18.5 million and will compensate CDC for its legal costs.
Kemira is satisfied with the settlement as it removes the uncertainty related to
the litigation outcome. The settlement also includes significant limitations of
liabilities for Kemira regarding the still pending legal actions filed by CDC
entities in the Regional Court of Dortmund, Germany in 2009 and in the municipal
court in Amsterdam, Netherlands in 2011. Kemira will continue to defend itself
against these claims.
For more information, please contact
Jukka Hakkila, Group General Counsel
+358 40 544 2303
Tero Huovinen, VP, Investor Relations
+358 10 862 1980
Kemira is a global chemicals company serving customers in water-intensive
industries. We provide expertise and chemicals that improve our customers'
water, energy and raw material efficiency. Our focus is on pulp & paper, oil &
gas, mining and water treatment. In 2013, Kemira had annual revenue of EUR 2.2
billion and around 4,500 employees. Kemira shares are listed on the NASDAQ OMX
GlobeNewswire, a Nasdaq company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.