Displaying items by tag: Kemira

Friday, 18 November 2011 11:00

Kemira changes outlook for full-year 2011

Kemira changes outlook for full-year 2011 due to weakening market conditions

Kemira's revenue and operative EBIT in the fourth quarter 2011 for Paper, Municipal & Industrial and Other segment are expected to be slightly lower than previously estimated.
 
The exceptionally late start of the winter season in continental Europe and Nordic countries has postponed deliveries of our de-icing products for airport runways. The demand of chemicals for the Paper industry in Europe and North America is expected to be lower than estimated. Some municipal customers have unexpectedly decreased their consumption of water treatment chemicals due to challenging economic environment. Raw material prices have stabilized but remain at a high level.

Kemira's management has initiated actions to reduce costs and to improve operational efficiency and cash flow.
 
Following the lower than expected volume demand in the fourth quarter of 2011, and high raw material prices, Kemira's full year 2011 revenue is expected to be at the same level as in 2010 and the full year 2011 operative EBIT at the same level or slightly lower than in 2010. Capital expenditure is expected to be approximately EUR 100 million in 2011.
 
Previously, the full year 2011 revenue was expected to be slightly higher than in 2010, and despite the rising raw material prices, full year 2011 operative EBIT was expected to be higher than in 2010. Kemira expected the capital expenditure to be between EUR 100-110 million in 2011.

Kemira will publish its fourth quarter and annual 2011 results on February 8, 2012.

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Harri Kerminen will retire on April 1, 2012 after successfully leading the company through a major strategic change into a water chemistry company and turning the company around to a profitable path. This last assignment completes his 26 years of successful career at Kemira.

Wolfgang Büchele (PhD, Chemistry) has been appointed Kemira Oyj's President and CEO as of April 1, 2012. He has been a member of Kemira's Board of Directors since 2009.

"Kemira's Board of Directors started the CEO succession process this summer due to Harri Kerminen's anticipated retirement in 2013. The process was faster than expected and therefore we agreed with Harri Kerminen that he will retire earlier than planned. As a member of Kemira's pension fund he has the right for this", says Pekka Paasikivi, the Chairman of the Board.

Wolfgang Büchele will bring to Kemira extensive and broad industrial knowledge combined with international experience and network, especially in the fast developing Asian markets. He has spent most of his career, from 1993 until 2007 in BASF's Fine Chemicals organization in Europe, China and United States. Since 2009 he has been member of the Board and CEO of BorsodChem Zrt. in Hungary. He and his family will move to Finland.

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Kemira today celebrated the opening of a new water treatment chemicals plant in Tallinn, Estonia. The plant will operate as a Baltic region production hub for inorganic coagulants that are used in municipal and industrial water treatment. Kemira's manufacturing facilities were re-located to new premises due to the reconstruction of the Ülemiste traffic junction.

 

''Kemira's product selection has broadened and we are currently serving both municipal and industrial customers throughout the Baltic. The Tallinn plant uses the latest technology and logistically it has a very good location. We can offer fast and cost-efficient deliveries to our customers in Estonia, Latvia and Lithuania," says Tarmo Siir, the Managing Director of Kemira's subsidiary Kemivesi.

 

Kemira has operated in Estonia since 1994. Kemira's strengths include high-level application know-how and a comprehensive range of water treatment chemicals, which we deliver reliably to our customers.

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Friday, 14 October 2011 10:04

Kemira sold Galvatek to Folmer Equity Fund I Ky

Kemira has sold today Oy Galvatek Ab to Finnish capital investment company Folmer. Galvatek's services include planning surface and waste water treatment plants, project management and providing of maintenance services. Galvatek's headquarter is in Lahti, Finland and its subsidiary is located in Poland.

 

The transaction does not have any significant impact on Kemira's financial figures, and the parties have agreed not to disclose the transaction price.

 

In accordance with its strategy, Kemira focuses on water chemistry and on products and applications for water-intensive industries, such as pulp and paper, oil and mining, municipal and other industrial water treatment.

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Friday, 16 September 2011 07:43

Kemira Capital Markets Day 2011

harri kemiraAt the Capital Markets Day in Helsinki, Harri Kerminen, President and CEO gave a presentation about Kemira's strategy. Kemira improves its customers water related processes through chemistry applications, and has strong market positions in targeted customer industries.


Kemira's strategy is designed to leverage growing demand for water and continuous productivity improvement, reducing volatility of business performance over cycle. Kemira has improved its operative EBIT in January-June 2011 by 4% despite a 20% increase in its raw material costs.

 

"Regarding the JV Sachtleben TiO2 business, Kemira and its partner Rockwood have both stated that they do not consider TiO2 to be a long-term core business.  Therefore, although we are currently happy with the performance of this business, we continue to consider and evaluate strategic options for this business for the long-term", Harri Kerminen said in his presentation.

Other Kemira speakers at the Capital Markets Day included Jyrki Mäki-Kala, CFO, Petri Helsky, president, Paper segment, Pekka Ojanpää, president, Municipal & Industrial segment, Randy Owens, president Oil & Mining segment, Heidi Fagerholm, Executive Vice President R&D and Technology.

Kemira kept its outlook for 2011 announced in the beginning of the year unchanged. Kemira expects the volume recovery that was seen in 2010 to continue in 2011 and Kemira's revenue is expected to be slightly higher than in 2010. Despite the rising raw material prices, Kemira expects the operative EBIT in 2011 to be higher than in 2010.

 

In 2011, Kemira expects the capital expenditure to be between EUR 100-110 million.

 

Kemira's financial targets remain as communicated in connection with the Capital Markets Day in September 2010. The company's medium term financial targets are:

- revenue growth in mature markets > 3% per year, and in emerging markets > 7% per year

- EBIT, % of revenue > 10%

- positive cash flow after investments and dividends

- gearing level < 60%.

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Thursday, 08 September 2011 09:05

30 years of formic acid production at Kemira

Kemira Oyj has produced formic acid for 30 years now. The production of formic acid has been expanded gradually, and the current production volume is over 100,000 tons per year.

Kemira actively develops new applications for formic acid, especially for the feed, chemical, and leather industries. "The main target of the development work is either to replace more harmful products with a formic acid based product, or to improve the customer process," tells Marjo Luoma, Director, Formate product line.

"A good example of our newest products is Tanfor A which improves the efficiency of the soy bean oil epoxidation process. Lowering the environmental load of the formic acid production is crucial for Kemira.  We are developing processes which use renewable biomass based raw materials for formic acid production," says Luoma. "Formic acid is a simple organic acid which is chemically the same naturally degradable acid that red ants have produced in the nature for already millions of years."

When Kemira started the formic acid production in cooperation with Valio in Oulu in fall 1981, most of the production was sold to Finnish farms as a silage additive. "Still today the preservation of silage is an important application for formic acid, even though the acid today is sold for numerous applications all over the world," says Luoma.

The prospect of formic acid applications and customers is still developing. The bulk of the product is exported from Finland either unprocessed or as a further processed solution for the leather and textile, chemical, pharmaceutical, and feed industries in about 60 countries. The salts of formic acid, formates, are used in several applications, for example, as de-icers at airports and as oil drilling fluids.

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Kemira increases prices for hydrogen peroxide products in EMEA by 15-25%. The increase will be effective immediately or as specific contract terms allow.

While Kemira continues to take actions to minimize the impact of escalating raw material costs, it is necessary to adjust pricing in order to compensate for the increased costs of raw materials, energy costs as well as freight costs.

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Kemira Oyj's subsidiary Kemira Chemicals Oy (former Finnish Chemicals Oy) has today received documents where it is stated that CDC Project 13 Sa (CDC) has filed an action against four companies, including Kemira, for violations of competition law applicable to the sodium chlorate business. Kemira will get acquainted with the documents.

 


The European Commision set on June 2008 a fine of EUR 10.15 million on Finnish Chemicals Oy for antitrust activity in the company's sodium chlorate business during 1994-2000. Kemira Oyj acquired Finnish Chemicals in 2005.

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Kemira is announcing price increases for its paper chemical products in all major markets. The increase, ranging from 5-20% depending on product, will be effective for all deliveries on or after June 1, 2011 or as specific contract terms allow.


While Kemira continues to take actions to minimize the impact of escalating raw material costs, it is necessary to adjust pricing in order to compensate for the energy impact, other raw material costs and increased freight costs.

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Kemira Oyj has today received a summons where it is stated that Cartel Damage Claims Hydrogen Peroxide SA (CDC) claims charges up to EUR 78 million and including interest and litigation expenses from Kemira Oyj for violations against competition law in hydrogen peroxide business. Kemira is processing the summons document.


The referred violations of competition law are the same as those on basis of which CDC has taken legal action in Germany in Dortmund. Kemira published a stock exchange release on the issue on August 19, 2009. Kemira defends against the claim.

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