Kemira and Kerr-McGee completed sale of TiO2 unit in the Netherlands

The sale will be concluded through the sale of Kemira’s entire holding in Kemira Holdings Inc. in the U.S. and in Kemira Pigments B.V., the Netherlands. The total purchase price is approx. EUR 400 Million on a debt-free, cash-free basis.

Net sales of the businesses involved in these transactions totalled approx. EUR 330 Million in 1999. They did not have any significant impact on the Kemira Group’s operating income. Kemira will book a pretax gain of approx. EUR 130 Million.

The TiO2 unit in Rotterdam has a capacity of 56,000 tons per annum and employes a staff of 240.

Kemira will seek future growth in pulp and paper chemicals, water treatment chemicals, paints and coatings. Further core business areas will be specialty fertilizers and industrial chemicals.

Profitability is at a good level at the Kemira Pigments unit in Pori, and it will continue as an independent company with the intention to integrate the unit into the industrial chemicals business. The TiO2 unit in Pori has a capacity of 120,000 tons per annum.

Kerr-McGee is an Oklahoma City –based energy and inorganic chemical company with worldwide operations of USD 6.5 billion yearly.

Further information:

Kemira Oyj Tel. +358 (0)10 8611
Juhani Kari, +358 (0)10 862 1804
Senior Vice President

Kemira Pigments Oy Tel. +32 10 232 727
Frits Visser, President GSM +040 768 4928