The closing has taken place concerning the sale of shares in Kemira Fine Chemicals Oy to 3i, Europe's leading venture capital and private equity company. The value of the deal is over EUR 70 million.
Kemira strengthens its four core business areas through organic growth and acquisitions. The Group's areas of growth are pulp and paper chemicals, water treatment chemicals, industrial chemicals and paints and coatings. Organic fine chemicals have not been among Kemira's core businesses.
Kemira Fine Chemicals Oy produces fine chemicals in Kokkola, Finland, for various industrial uses, e.g. agricultural and pharmaceutical products. The company's net sales totalled approx. EUR 50 million in the year 2003, and it employs approx. 170 persons in Kokkola, Espoo and Helsinki.
3i focuses on buyouts, growth capital and venture capital and invests across Europe, in the United States and in Asia Pacific. In the year to 31 March 2004, 3i invested EUR 1.5 billion.
For futher information please contact
Harri Kerminen, Executive Vice President - Industrial Chemicals
Kemira Oyj
GSM +358 (0)500 817 230
Kaj Friman, Group Treasurer
Kemira Oyj
Tel. +358 (0)10 862 1704, GSM +358 (0)50 62 626
Hannu Isohaaro, Director
3i Finland
GSM +358 (0)400 406 063
Ulf Björkqvist, President
Kemira Fine Chemicals Oy
Tel. +358 (0)10 862 1495, GSM +358 (0)50 500 4613