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Kemira to sell its Danish distribution business to Brenntag

Kemira has signed an agreement to sell its distribution of hydrochloric acid, sulfuric acid and sodium hydroxide (caustic soda) in Denmark to Brenntag Group. The deal includes the distribution business and certain assets in Copenhagen. The distribution business is currently part of Kemira's Municipal & Industrial segment. Revenue of the divested business in 2012 was approximately EUR 15 million and the transaction is expected to be completed during the first quarter of 2014.

"The divestment of our distribution business in Denmark is well in line with Kemira's sharpened strategy presented earlier this year. The divested business is not a focus area for Municipal & Industrial segment and the transaction will have a positive impact to the segment's EBIT margin. With Brenntag as our partner, Denmark will remain an important market for our water treatment solutions" said Frank Wegener, President of Kemira's Municipal & Industrial segment.

Torsten Walz, Managing Director Brenntag Denmark, says: "Through this acquisition we strengthen and expand our industrial chemicals product portfolio. Our customers will benefit from the extended product portfolio, further investment in our infrastructure and new, long-term strategic supplier relationships."

The transaction does not have material impact on Kemira's financial figures and the parties have agreed not to disclose further financial information.

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