Stock exchange release
July 1, 2013 at 11.30 am (CET+1)
Kemira has signed an agreement to acquire 3F Chimica S.p.A. (“3F”), a privately owned company, headquartered in Sandrigo, Italy, excluding a certain part of their assets in the US, for EUR 85 million. The acquisition is subject to fulfillment of certain conditions and closing of the transaction is expected in the fourth quarter of 2013.
3F produces dry and emulsion polyacrylamide polymers and related process chemicals. Their polymer production is supported by backward integrated key intermediates, such as bio-acrylamide and cationic monomers. The acquisition includes two manufacturing sites in Italy (San Giorgio and Sandrigo) and one manufacturing site in USA (Aberdeen, Mississippi). 3F products are used in retention and drainage in paper production, in drilling, extraction and stimulation in the oil & gas industry, in production optimization in the mining industry as well as in wastewater treatment and sludge dewatering. In 2013, revenues of 3F are expected to be approximately EUR 75 million.
“The acquisition of 3F accelerates our strategic plan and secures our position as a leading global polymer producer. It also supports Kemira’s future growth by providing additional polymer capacity and by enabling us to close technology gaps in monomer and polymer production in Europe and the US. Polymers are forecasted to grow above-the-market and are highly synergistic with Kemira’s other differentiated process chemicals. Besides the strong strategic fit, the transaction is expected to result in substantial synergies through raw material, logistics and fixed cost savings,” says Randy Owens, President, Oil & Mining and Region Head, North America.
“This transaction will allow production, technology and commercial synergies in the market using production capacity of 3F Chimica Group plants and allows Kemira to reach a leading position in the applications of paper, oil & gas, mining and waste water treatment”, says Roberto Toniolo, President, 3F Chimica S.p.A.
For more information, please contact
Randy Owens, President, Oil & Mining segment
Tel. +1 770 436 1542
Matti Lapinleimu, VP, Mergers & Acquisitions
Tel. +358 10 862 1786
Tero Huovinen, Director, 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 2012, Kemira had annual revenue of EUR 2.2 billion and around 4,900 employees. Kemira shares are listed on the NASDAQ OMX Helsinki Ltd.