March 30, 2021 at 9.00 am (EEST)
The building and innovation investment of Kemira, Ahlström Capital, Kirkon Eläkerahasto and Aktia Life Insurance Ltd promotes growth in Espoo, Finland – Kemira’s new research center as part of the Green Chemistry Park concept
The Finnoo area next to the West Metro subway line is being developed into an urban and energy-efficient district, which will be home to approximately 17,000 residents in the future. Kemira’s strategic research center has been located in this developing area for 48 years. The area of five and half hectares is owned by Kemira’s Pension Fund Neliapila.
Kemira, Kemira’s Pension Found Neliapila and the consortium consisting of Ahlström Capital, Kirkon Eläkerahasto and Aktia Life Insurance Ltd have signed a pre-agreement and a lease agreement to build a new research center for Kemira as part of the Green Chemistry Park concept. It is planned that the business premises concept of approximately 25,000 squaremeters of floor area will include state-of-the-art laboratory and office spaces next to apartment buildings and a large park. The value of Kemira and the consortium’s investments will amount to approximately EUR 70-80 million in total. The new research center is scheduled for completion in the summer of 2024.
“The research center in Espoo has been the back bone of Kemira’s R&D activities for decades and will be that also in the future. This is a significant strategic investment for us. Our objective is to develop completely new kinds of bio-based products and other new solutions so that our customers can enjoy more sustainable and renewable end products,” says Kemira’s President & CEO Jari Rosendal.
“We’re making long-term investments in the Helsinki metropolitan area and other centers of growth. Kemira’s significant commitment to this project is extremely important to us as an investor. We’re happy that we can develop this unique business and science center in Espoo with Kemira and our partners,” says Lasse Heinonen, CEO at Ahlström Capital. Ahlström Capital’s real estate and forest investments are managed by A. Ahlström Real Estate Ltd.
“Inspiring, dynamic Espoo is one of the four cross-administrative development programs of the City of Espoo.
The promotion of internationally appealing business and experiment platforms that diversify the economic structure of Espoo is at the core of the City’s growth strategy. I’m very pleased that we’ve got such an important investment in Espoo. It’ll create new jobs and enable people to live in a new, sustainable way in the center of Espoo,” says Jukka Mäkelä, Mayor, City of Espoo.
For more information, please contact:
Jari Tolvanen, Director, Real Estate
Tel. +358 50 573 2526
Terhi Kivinen, Director, Global Communications
Tel. +358 40 848 4001
Ahlström Capital Oy
Pia Lindborg, Director, Real Estate
Tel. + 358 50 328 8579
Camilla Sågbom, Director, Corporate Communications
Tel. +358 10 888 4172
Kemira is a leading global producer of sustainable chemical solutions to water intensive industries. We provide expertise, application know-how and chemicals that improve our customers’ product quality, process and resource efficiency. Our focus is on the pulp and paper, water treatment as well as oil and gas industries. In 2020, Kemira had an annual revenue of approximately EUR 2.4 billion and around 5,000 employees. Kemira shares are listed on the Nasdaq Helsinki.
A. Ahlström Kiinteistöt Oy manages Ahlström Capital’s real estate and forest holdings including the historical Works area in Noormarkku and Kauttua. The total value of these holdings is ca. EUR 300 million. A. Ahlström Kiinteistöt looks for new investments with the possibility to create value through active ownership and real estate development and conversion projects. The company invests in central locations in metropolitan areas, Tampere and Turku.
Ahlström Capital is one of Finland’s largest investment companies with a long history of 170 years. Ahlström Capital is a family-owned company that focuses its investment activity on industrial companies, real estate and forest.
The Church Pension Fund serves as the pension provider for the Evangelical-Lutheran Church of Finland. The Fund is responsible for financing the pensions paid to Church personnel and for the investment of pension funds. The value of the Church’s pension fund is EUR 1,7 billion, of which real estate investments are 14,8 %. Direct real estate investments in the portfolio account for 3 percent and the properties are located mainly in the Helsinki metropolitan area.
Aktia Life Insurance Ltd
Aktia Life Insurance was founded in 1921 and offers life insurance services to individuals, companies, and entrepreneurs in Finland. The company is also an institutional investor with assets under management of approximately EUR 1.5 billion. These investments include significant real estate assets, which include both real estate funds and individual direct real estate investments. The direct real estate investments are located in the Helsinki metropolitan area, Turku and Tampere.