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[October 2001]
Nordic Speciality Chemicals Group to be Formed
Industri Kapital and the State of Finland have agreed in principle to combine Kemira Oyj, Dynea Oy and Sydsvenska Kemi AB. Prior to the combination of Dynea and Kemira, Dynea will acquire Sydsvenska Kemi containing, inter alia, the operations of Perstorp AB and also Neste Oxo AB. Dynea and Sydsvenska Kemi are both companies controlled by Industri Kapital while the State of Finland is the majority shareholder if Kemira through a shareholding of approximately 56%.
The new group will have strong market positions in its core businesses and the necessary critical mass to facilitate further growth with an annual revenue of approximately 4.3 billion euros. It will have operations in over 40 countries and its major business areas will include coating chemicals, adhesive resins, water treatment chemicals etc.
The businesses being consolidated into this new group currently have a combined world-wide workforce of around 16,000 employees.
ENDS