Nordic Business Report-September 6, 2006-Kemira Oyj confirms sale of South Korean hydrogen peroxide unit
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Finnish chemicals group Kemira Oyj said on Wednesday (6 September) that the sale of its South Korean hydrogen peroxide unit to DegussaHeadwaters Korea had been confirmed.
Kemira Pulp & Paper Chemicals' (PPC) primary objective is to serve customers in the pulp and paper industry whereas the South Korean plant has mainly served the needs of customers outside this targeted industry sector.
The unit's annual revenue has been some EUR20m.
The final selling price was EUR27.5m.
In connection with the sale of the hydrogen peroxide unit Kemira PPC is establishing a new company, Kemira Korea Corporation, which will continue Kemira's pulp and paper chemicals business operations in Korea.
One euro (EUR) is worth approximately 0.67 British pounds (GBP).
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