Stock Exchange Release
March 6, 2014 at 5.15 pm (CET+1)
Kemira has on March 6, 2014 completed the ChemSolutions’ formic acid business divestment to Taminco Corporation. The divestment was announced on December 23, 2013. The transaction included a manufacturing asset for formic acid, including the feed and the airport runway deicing product lines in Oulu, Finland and approximately 160 employees.
Kemira reports a capital gain of approximately EUR 40 million related to the transaction in the first quarter of 2014.
As previously communicated, sodium percarbonate, the remaining business within the ChemSolutions segment, will stay within Kemira and will be reported as part of the Paper segment. The ChemSolutions segment will be discontinued after the first quarter of 2014.
For more information, please contact
Tero Huovinen, VP, Investor Relations
Tel. +358 10 862 1980
Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise 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 2013, Kemira had annual revenue of EUR 2.2 billion and around 4,500 employees. Kemira shares are listed on the NASDAQ OMX Helsinki Ltd.
Taminco is the world’s largest integrated producer of alkylamines and alkylamine derivatives. Taminco’s products are used by customers in the manufacture of a diverse array of everyday products for the agriculture, water treatment, personal & home care, animal nutrition and oil & gas end-markets. Taminco’s products provide these goods with a variety of ancillary characteristics required for optimal performance. Taminco currently employ about 850 people and operate in 19 countries with seven production facilities in the US, Europe and Asia.