Kemira Oyj, Inside Information, 29.3 2023 at 4.00 pm (EEST)
Inside information: Kemira announces a strategic review of its Oil & Gas business
In line with its strategic focus, Kemira’s Board of Directors has decided to initiate an evaluation of strategic options for Kemira’s Oil & Gas business, including a potential sale of the business.
“In our Capital Markets Day 2022, we expressed our interest to grow in water-related applications. In recent years we have invested in the growth of our Oil & Gas business, and we have seen strong revenue growth in the business since 2021. Now is a good time to evaluate the optimal portfolio composition for Kemira in the long term and the strategic alternatives for the Oil & Gas business,” says Kemira’s President and CEO, Jari Rosendal.
Kemira’s Oil & Gas business focuses on shale oil & gas, oil sands tailings treatment, and cEOR (Chemical Enhanced Oil Recovery). In 2022, the revenue of the Oil & Gas business was EUR 377 million, representing approximately 11 % of Kemira’s total revenue and 25% of the Industry & Water segment’s revenue.
Kemira will provide updates on the progress of the strategic review in due course.
For more information, please contact:
Kemira Oyj
Terhi Kivinen, Chief Communications Officer
Tel. +358 40 8484001
Mikko Pohjala, Vice President, Investor Relations
Tel. +358 40 838 0709
mikko.pohjala@kemira.com
Kemira is a global leader in sustainable chemical solutions for water-intensive industries. We provide the best-suited products and services to improve our customers’ product quality, process, and resource efficiency. Our focus is on pulp & paper, water treatment, and energy sectors. In 2022, Kemira had annual revenue of around EUR 3.6 billion and around 5,000 employees. Kemira shares are listed on the Nasdaq Helsinki Ltd.
www.kemira.com