The Kemira Group and the US-based Kerr-McGee Chemical LLC are proceeding with the sale of Kemira's titanium dioxide pigment production unit and related business in Savannah, Georgia in the United States.
The waiting period, as stipulated in the Hart-Scott-Rodino Antitrust Improvements Act, with respect to the announced sale of Kemira's titanium dioxide operation in Savannah, has expired. The sale was subject to approval by American competition authorities and the expiration of the waiting period means that the sale of Kemira's American TiO2 operation will now proceed towards closure.
The sale of Kemira's titanium dioxide operation in Rotterdam, Holland is still awaiting the advice of the works council and the antitrust review.
Kemira's titanium dioxide operation in Pori, Finland will remain a part of Kemira.
Kemira is a Finland-based chemical industry group whose core businesses are pulp and paper chemicals, water treatment chemicals and paints. Other areas of focus include speciality fertilisers and industrial chemicals. The net sales of the Group is EUR 2.5 billion.
Kerr-McGee is an Oklahoma City-based energy and inorganic chemical company with world-wide operations and USD 6.5 billion of assets.