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Kemira completes acquisition of AkzoNobel's paper chemical business

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Kemira completes acquisition of AkzoNobel's paper chemical business

April 07, 2015 - 19:53
Posted in:

HELSINKI, March 23, 2015 (Press Release) -

Kemira's acquisition of AkzoNobel's paper chemical business was announced on July 8, 2014. Closing of the transaction was expected during the first quarter of 2015 and is subject to customary closing conditions, including completion of employee consultation proceedings and approvals of competition authorities in certain countries.

Employee consultation proceedings have been completed and competition approvals have been received, except the approval from Ukrainian competition authority, thus delaying the expected closing of the transaction to Q2 2015.

Revenue of the transaction scope in Ukraine is less than 1% of the total transaction scope revenue.

Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise, application know-how 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 2014, Kemira had annual revenue of EUR 2.1 billion and around 4,250 employees. Kemira shares are listed on the NASDAQ OMX Helsinki Ltd.