Kemira Oyj receives approval for acquisition of Finnish Chemicals Oy

Nordic Business Report, March 8, 2005

NORDIC BUSINESS REPORT-8 March 2005-Kemira Oyj receives approval for acquisition of Finnish Chemicals Oy(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com

Finnish chemical industry group Kemira Oyj said on Tuesday (8 March) that competition authorities had approved its acquisition of Finnish Chemicals Oy from Erikem Luxembourg S.A.

The cash and debt free price of the deal was valued at EUR345m.

The deal would become effective at the end of the month.

With the acquisition Kemira would become the second largest pulp and paper chemicals supplier globally, according to the company.

The main products of Finnish Chemicals are sodium chlorate, sodium hydroxide, chlorine oxide and sodiumborohydride, and the company has annual net sales of nearly EUR200m, according to Kemira.

Kemira said that it expects to see a positive effect on the company's result per share from the first full year.

One euro (EUR) is worth approximately 0.70 British pounds (GBP).

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