The re-alignment of Kemira's product portfolio under the new "redesign for expansion" strategy continues. Chemsolutions is a non-core business segment with limited synergies to the company's core business, according Kemira.
Helsinki-based water chemicals company Kemira has initiated a process to explore strategic options for its Chemsolutions business segment. "Chemsolutions is a non-core part of Kemira's business with limited synergies to Kemira's core business," the company explained. Last April, Kemira presented its new strategy which "focuses on pulp and paper, oil and gas, mining and water treatment and provides expertise and tailored combinations of chemicals for water-intensive industries."
In Q1 2013, the company had already divested Chemsolutions' food and pharmaceuticals businesses to the US-based chemicals company Niacet Corporation. In addition, the company has sold its 39% stake in the joint venture titanium dioxide manufacturer Sachtleben to the JV-partner Rockwood Holdings Inc. Accordig to Kemira, the total procceeds from the two divestments amounted to €178m.
At the very beginning of July, Kemira signed an agreement to acquire the Italian manufacturer of polymers and related process chemicals, 3F Chimica Spa for EUR 85 million. The acquisition, which includes two manufacturing sites in Italy and one manufacturing site in USA, is meant to accelerate Kemira's strategic plan and safeguard its position as the leading polymer producer worldwide, according to the company. The transaction is scheduled for closure in the fourth quarter of 2013.
