Kemira sells its 30 % minority holding in the air gas company Oy Polargas Ab to the French company L'Air Liquide S.A., the majority shareholder in Polargas. Polargas supplies air gases and related services mainly to the metal, pulp and paper, food and chemical industries.
The deal is in accordance with Kemira's strategy, as the group's core businesses do not include air gas production. One of Kemira's core business areas focuses on providing the pulp and paper industry with specialty chemicals. "To support its growth strategy, Kemira has increased its presence significantly in its specialty paper chemicals business through acquisitions in both Central Europe and North America during the past three years", says Juhani Lindholm, Executive Vice President, Kemira Pulp and Paper Chemicals.
The long cooperation between Kemira and Polargas will continue at Kemira's various sites. In addition, the companies will continue their cooperation in sales and marketing.
"We are very pleased to complete the acquisition of Polargas' capital from the Kemira Group with whom we have a long standing partnership. This operation is fully in line with our long term strategy in this part of the world. For several years now, we have constantly reinforced our presence in the Nordic countries, an area where we have clearly identified growth opportunities for our activities in large industry as well as transformation industries", says Jean-Pierre Duprieu, Executive Vice President, Air Liquide.
Air Liquide is the world leader in industrial and medical gases and related services. Air Liquide operates in 65 countries, and the company's net sales totalled EUR 7.9 billion in 2002. The company has 30,800 employees.
Kemira Group operates globally in the chemical industry, focusing on sectors demanding versatile chemical technology. The Group's net sales totalled EUR 2.6 billion in 2002, and the group employs 10,300 people. Kemira is a leading global supplier of pulp and paper chemicals, and it has designated its pulp and paper chemicals as one of the group's core businesses and growth areas with a turnover of EUR 600 million.
Further information:
Kemira Oyj
Pulp & Paper Chemicals
Tel. +358 (0)10 862 1606,
GSM +358 (0)50553 4931
Mr. Juhani Lindholm,
Executive Vice President
Air Liquide
Oy Polargas Ab
Mr. Lauri Kinnunen,
Managing Director
Mobile +358 (0)400 681 448