Kemira sells Canadian hydrogen peroxide plant to Evonik
Kemira and Evonik have signed a contract according to which Kemira sells its Canadian hydrogen peroxide unit in Maitland to Evonik. The closing of the transaction is planned to take place at the end of November, 2011.
The transaction does not have any significant impact on Kemira’s financial figures, and the parties have agreed not to disclose the transaction price. When closed, the transaction will have some positive impact on Kemira’s net profit in Q4, 2011.
“Kemira is focusing according to its strategy on serving the water intensive industries such as the pulp and paper industry. Exiting the North American hydrogen peroxide market is a further step in implementing the Paper strategy. Hydrogen peroxide is in the core of Kemira’s global business but we are adapting our offerings regionally. In hydrogen peroxide our strengths are in Europe and South America. Exiting Maitland frees resources to further develop our Paper business in North America in other applications, such as paper wet-end, pulp process and water quality and quantity management” states Petri Helsky, head of Paper segment.
Kemira is a global two billion euro water chemistry 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.
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