09/12/2022 | Press release | Distributed by Public on 09/12/2022 08:05
Kemira Oyj, press release, September 12 at 5.00 pm (EEST)
Kemira has signed a definitive agreement to sell its colorants dye business to US based ChromaScape, LLC. Revenue of the business in 2021 was approximately 50 MEUR and 67 employees will be transferred to ChromaScape as part of transaction which is expected to be closed in the first quarter of 2023. Scope includes also one Kemira manufacturing site at Goose Creek, Bushy Park in South Carolina. Kemira will keep its APAC related colorants business.
"We are very happy to see that our strategic objective to streamline Kemira's portfolio is reaching the next milestone. Chromascape has shown ways to take colorants platform to new heights and thus secures further value creation for our joint customer base. We are excited to continue collaboration with the new owner of our colorants business after Closing," says Antti Matula, SVP Global Product Lines & Business Development, Kemira Oyj
"This agreement allows us to expand our already strong position in the paper dye market.
We welcome the experienced Kemira staff to our team and are excited to add the high-quality production facility at Goose Creek to our manufacturing footprint. We look forward to our collaboration with Kemira going forward," says Seth Tomasch, CEO of ChromaScape, LLC
Kemira's colorants include basic and direct dyes, organic pigments and special colorants which are used in numerous different paper and packaging applications such as tissue, carboard, newspaper, and high end packaging solutions for jewelry, cosmetics and food stuffs.
For more information please contact:
Antti Matula, Senior Vice President, Global Product Lines & Business Development
Tel. +358 50 570 3576
Mikko Pohjala, Vice President, Investor Relations
Tel. +358 40 838 0709
Kemira is a global leader in sustainable chemical solutions for water intensive industries. We provide best suited products and expertise to improve our customers' product quality, process and resource efficiency. Our focus is on pulp & paper, water treatment and energy industry. In 2021, Kemira had annual revenue of around EUR 2.7 billion and around 5,000 employees. Kemira shares are listed on the Nasdaq Helsinki Ltd.
ChromaScape, LLC is a specialty colorants and additives supplier who provides premium products for a variety of industries.ChromaScape has over 100 years of combined colorant industry experience which includes executive, strategic and operational management experience from entrepreneurial startups to Fortune 300 companies. It operates five manufacturing and distribution facilities throughout the United States.