Kemira Oyj acquires remaining 40% of Kemiron Companies Inc

Nordic Business Report, May 4, 2005

NORDIC BUSINESS REPORT-4 May 2005-Kemira Oyj acquires remaining 40% of Kemiron Companies Inc(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com

Finnish chemical industry group Kemira Oyj said on Wednesday (4 May) that it was strengthening its position in the North American water treatment business through the purchase of the remaining 40% of shares in Kemiron Companies Inc.

The acquisition price was not disclosed.

Kemira's previous holding in Kemiron had totalled 60% of all shares while the holding of Lawrence Hjersted, the founder and managing director of Kemiron, had been 40% of all shares in the company.

Kemira's North American water treatment business consists of Kemiron and Eaglebrook International Group which was acquired last year. The net sales of Kemiron and Eaglebrook total some USD165m and they employ some 500 persons.

One US dollar (USD) is worth approximately 0.52 British pounds (GBP).

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