23 December 2013
Details
Kemira
signed an agreement today to
sell its formic acid business,
including the feed and
the airport runway deicing product lines
to Taminco Corporation (USA).
The transaction includes
* a manufacturing assets for formic acid
in Oulu, Finland and
* approximatley 160 employees.
The agreed transaction price is EUR140 million
and will be fully paid at closing and
Kemira expects to report a capital gain
related to the transction in the first half of 2014.
Sodium percarbonate, the remaining business within
the ChemSolutions segment,
will stay within Kemira and
will be reported as part of the Paper segment.
Kemira,
Wolfgang Buchele, President and CEO
- ChemSolutions is a well performing and solid business-
however, no synergies to
Kemira water related core businesses.
- After the divestment of formic acid business,
Kemira will become
a purely water-focused chemical company
based on 3 segments
* Paper
* Oil&Mining
* Municipal & Industrial
- After the successful execution of
several non-core divestments in 2013,
Kemira's management resources and financing capabilities
will be fully focused on
growth and profitability improvement
in the core business.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
