Kemira Oyj Completes The Acquisition Of Akzonobel Paper Chemicals Business
HELSINKI, Finland, May 4, 2015 /PRNewswire/ -- Kemira has completed the acquisition of AkzoNobel paper chemicals business announced on July 8, 2014.
The value of the transaction is EUR 153 million and it will become cash-effective in the second quarter of 2015. The acquired business is expected to increase revenue by more than EUR 200 million on an annualized basis as of the completion date.
As communicated earlier, six of the AkzoNobel paper chemicals manufacturing sites and approximately 350 employees will be transferred to Kemira. Kemira will also increase the production capacity of its own paper chemical manufacturing sites in order to realize expected production synergies. The integration period of the transaction is expected to last approximately two years and result in EUR 15 million net synergies on an annualized basis. The production sites to be transferred to Kemira are located in South Korea, Thailand, Indonesia, Australia, Spain and Italy.
"This acquisition strengthens our market position, especially in the growing APAC region. It also enables substantial efficiency improvements in our global paper chemicals manufacturing network. Most importantly, we gain new competencies and technological capabilities through 350 paper chemical experts and six manufacturing facilities -- extending our ability to deliver best in business expertise and services to our customers. I want to warmly welcome all the new employees to Kemira, now the only pulp and paper chemistry provider with a truly global reach," says Jari Rosendal, Kemira's President and CEO.
For more information, please contact
Mats Ronnback, Interim President, Segment Paper & APAC
Tel. +85 262 170 122
Nichlas Kavander, Vice President, Segment Paper, APAC
Tel. +86 185 2131 9966
Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise, application know-how and chemicals that improve our customers' water, energy and raw material efficiency. Our focus is on pulp & paper, oil & gas, mining and water treatment.
In 2014, Kemira had annual revenue of EUR 2.1 billion and around 4,250 employees. Kemira shares are listed on the NASDAQ OMX Helsinki Ltd.
More information about the key customer benefits of the acquisition:
http://pages.kemira.com/extend-your-capabilities
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