Kemira has signed an agreement on the sale of the shares in Kemira Fine Chemicals Oy to 3i, Europe's leading venture capital company. The value of the deal is over EUR 70 million.
The divestment is conditional and subject to approval by authorities.
Kemira continues strengthening its four core businesses through organic growth and acquisitions. The Group's growth areas consist of pulp and paper chemicals, water treatment chemicals, industrial chemicals, and paints and coatings. Fine chemicals business is not among Kemira's areas of focus.
Kemira Fine Chemicals produces fine chemicals in Kokkola, Finland. These chemicals are used in different industries, e.g. in agrochemicals and the pharmaceutical industry. The company's net sales totalled approx. EUR 50 million in the year 2003, and the company employs a total personnel of approx. 170 persons in Kokkola, Espoo and Helsinki.
For further information:
Harri Kerminen, Executive Vice President
Kemira Oyj, Industrial Chemicals GSM +358 (0)500 817 230
Kaj Friman, Group Treasurer Tel. +358 (0)10 862 1704
Kemira Oyj GSM +358 (0)50 62 626
Timo Leppä, Senior Vice President Tel. +358 (0)10 862 1700
Kemira Oyj, Group Communications GSM +358 (0)50 30 168 00
Hannu Isohaaro, Director
3i GSM +358 (0)400 40 6063