Kemira completes acquisition of chemical business

Kemira has completed the acquisition of AkzoNobel paper chemicals business. The value of the transaction is EUR 153 million.

The acquired business is expected to increase revenue by more than EUR 200 million on an annualized basis as of the completion date.

As communicated earlier, six of the AkzoNobel paper chemicals manufacturing sites and approximately 350 employees will be transferred to Kemira. Kemira will also increase the production capacity of its own paper chemical manufacturing sites in order to realize expected production synergies.

The deal will become cash-effective in the second quarter of 2015.

The integration period of the transaction is expected to last approximately two years and result in EUR 15 million net synergies on an annualized basis. The production sites to be transferred to Kemira are located in South Korea, Thailand, Indonesia, Australia, Spain and Italy.