The sale of Kemira's South Korean hydrogen peroxide unit to DegussaHeadwaters Korea has been confirmed. Kemira Pulp & Paper Chemicals' (PPC) primary objective is to serve the customers in the pulp and paper industry whereas South Korean plant has mainly served the needs of the customers outside the targeted industry sector. The unit's annual revenue has been approximately EUR 20 million. The final selling price is EUR 27,5 million.
In connection with the sale of the hydrogen peroxide unit, Kemira PPC is establishing a new company, Kemira Korea Corporation, which will continue and strengthen Kemira's pulp and paper chemicals business operations in Korea.
The revenue of Kemira's Pulp & Paper Chemicals business is approximately EUR 1,1 billion and the company has a payroll of 2.500 employees. After the sale of Korea's unit Kemira remains still one of the world's biggest producers of hydrogen peroxide used in pulp bleaching. Company owns hydrogen peroxide plants in Oulu (Finland), Helsingborg (Sweden), Rozenburg (Neatherlands), and Maitland (Canada) and has a joint venture (50/50) in Ube (Japan). Kemira is also building a new hydrogen peroxide unit in Fray Bentos (Uruguay).
Further information:
Kemira Oyj Pulp & Paper Chemicals Lauri Junnila, President, Pulp & Paper Chemicals Tel. +358 (0)10 862 1587, gsm. +358 (0)50 598 8050
Pulp & Paper Chemicals Jarmo Savolainen, Vice President, Bleaching Chemicals Gsm. +358 (0)40 559 6710
Kemira is a chemicals group that is made up of four business areas: pulp and paper chemicals, water treatment chemicals, performance chemicals and paints. Kemira is a global group of leading chemical businesses with unique competitive position and a high degree of mutual synergy.
In 2005, Kemira recorded revenue of around EUR 2 billion and had a payroll of 8,000 employees. Kemira operates on all continents, in 40 countries.
