Kemira has purchased all the shares in Kemwater Services Oy held by the City of Helsinki. The Helsinki City Board approved the bid at its meeting on 9 December 2002. Cooperation with Helsinki Water will continue on a project-by-project basis. Kemira's ownership in Kemwater Services was 51 percent before the deal and that of Helsinki City 49 per cent.
Kemwater Services Oy offers water supply and sanitation services to municipalities and the industrial sector in Finland and in neighbouring regions. Kemwater Services Oy began operations in 2000. The company currently employs nine people. The financial administration and maintenance activities of the company have been outsourced. The expected growth in net sales for 2003 is over 50 percent.
Kemwater Services Oy has taken a significant new step by signing a letter of intent with St. Petersburg-based VodokanalStroi. The purpose of the agreement is to develop water supply and sanitation services according to the Public - Private - Partnership principle in northwestern Russia, the Priozersk district being the first case. In addition, three other contracts have been signed recently, with a total value of about one million euros.
Further information:
Kemwater Services Oy
Helsinki
Vesa Ranta-Pere
Managing Director
Tel. +358 (0)10 862 1695
GSM +358 (0) 50 374 8376