TRADE UNION RETRACTS COMMENTS ABOUT DYNEA'S FINANCIAL HEALTH.(Chemical trade union Kemianliitto)(Brief Article)

Chemical Week, October, 2001 by MORRISON, SCOTT

Chemical trade union Kemianliitto (Helsinki) has agreed to retract statements it made alleging that Dynea (Helsinki) is in poor financial health. The decision follows a meeting between the union and Dynea's board.

Kemianliitto said earlier this month that Dynea's debt-to-equity ratio was too high for its parent, private equity capital firm Industri Kapital (Stockholm), to complete its planned acquisition of the Finnish government's 56% stake in Kemira (CW, Sept. 12, p. 15). Dynea says that allegation was based on "a serious misunderstanding."

Dynea, created last year via a merger between Industri Kapital's Dyno Industrier and Neste Chemicals businesses, has lost money so far this year due to nonrecurring restructuring charges. "It's impossible to...

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