June 23, 2010 at 9.00 am (CET+1)
Kemira Oyj and German Catec GmbH financially supported by Fengler Beteiligungs GmbH have signed a contract, according to which Kemira sells its global Fluorescent Whitening Agents (FWAs) business to Catec. FWAs improve the whiteness and brightness of paper. The deal covers a production plant in Leverkusen, Germany, the global FWA sales network and the associated support functions. The FWA business and its staff of about 100 persons will be transferred to the new owner once the companies have closed the transaction in August 2010.
Kemira has informed the Works Councils about the transaction and the co-determination negotiations will start immediately.
The transaction does not have any significant impact on Kemira’s financial figures, and the parties have agreed not to disclose the transaction price.
“Kemira is focusing according to its strategy on products and services that enhance the water quality and quantity management in the water intensive industries such as pulp and paper industry. Exiting FWA business is in line with our strategy to enhance the product lines which are common for all our segments and on which we are building our competitiveness”, states Petri Helsky, head of Paper segment.
Jyrki Mäki-Kala, Chief Financial Officer
Mobile +358 40 534 1060
Petri Helsky, President
Mobile + 358 50 359 7329
On behalf of Catec GmbH
Mr. Eckhard Wenderoth
Mobile +49 (0)173 8888 389
Kemira is a global two billion euro chemicals company that is focused on serving customers in water-intensive industries. The company offers water quality and quantity management that improves customers’ energy, water, and raw material efficiency. Kemira’s vision is to be a leading water chemistry company.