Kemira acquires dutch Verdugt BV

10-Feb-2005

Kemira Oyj will acquire all holding in the Dutch specialty chemicals company Verdugt BV from the international private equity firm CVC Capital Partners and the company's current operative management. The deal is worth approximately EUR 148 million. With Verdugt, Kemira's sales of organic acids and derivatives will increase to be threefold compared with previous levels, viz. to 160 million euros, and will open up new growth opportunities for the company both commercially and geographically.

With the acquisition Kemira advances in the value chain in accordance with the Group's strategy, moving towards products with added value. Kemira will gain the position as the global leader in organic acid derivative production and marketing, from the Group's current position as the second biggest producer of formic acid and its derivatives.

Through this acquisition Kemira will strengthen its position in Europe and acquire a leading position in formic acid in the U.S. The acquisition widens Kemira's product range, and there are strong synergies between the two companies in logistics, marketing and know-how. In addition to new applications, new possibilities will open up for the company to expand its markets in North and South America and Asia.

The transaction is subject to approval by the authorities.

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