Kemira to acquire Finnish Chemicals Oy
Kemira Oyj will acquire all shares in Finnish chemicals Oy from Erikem Luxembourg S.A., the acquisition vehicle for private investors led by PPM Ventures together with Montagu Private Equity and MB Funds. Finnish Chemicals has net sales total nearly EUR 250 million. The cash and debt free prize of the shares is EUR 345 million and the acquisition is estimated to positively effect Kemira's result per share from the first full year on. Through this deal Kemira will rise to be number two globally as a chemical supplier to the pulp and paper industry.
The acquisition is in line with Kemira's business strategy whereby the Group will develop all the four core business areas equally, the strategic business units being pulp and paper chemicals, water treatment chemicals, industrial chemicals, and paints and coatings. Kemira will focus on developing profitability, secondly on expansion, on building up the Group's leading position, and on synergy between the Group's businesses. We expect the deal to have a positive effect also on Kemira's water treatment business, CEO Lasse Kurkilahti says.
The main products of Finnish Chemicals are sodium chlorate, sodium hydroxide, chlorine dioxide, and sodiumborohydride. Through this deal Kemira will gain the position of the sole full range supplier to the pulp bleaching process globally.
The turnover of Kemira's pulp and paper chemicals business after the acquisition is approximately EUR 810 million.
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