Displaying items by tag: Kemira

Kemira rgb negKemira has successfully started a new strength resins and solution polymers production line in its paper chemical site in Äetsä, Finland. The new production line was started in April 2015 and the ramp-up of the new production capacity has been successful resulting in high product quality and performance.

The new plant serves Kemira’s highly valued customers in both Paper and O&M segments in the Nordics, Western Russia and Eastern European rim and strengthens our capabilities in the growth areas. Strength products will respond to the growing demand of tissue, packaging boards and specialty papers.

Kemira continues to invest in growing markets and value-adding product lines and is committed to serve the paper industry.

For more information, please contact:

Kemira Oyj
Antti Matula
Director, Paper, EMEA
Tel. +358 50 570 3576
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Tommi Kankkunen
Director, Manufacturing EMEA, Paper
Tel. +49 17 1556 2537
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Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise, application know-how and chemicals that improve our customers’ water, energy and raw material efficiency. Our focus is on pulp & paper, oil & gas, mining and water treatment. In 2014, Kemira’s annual revenue was EUR 2.1 billion and we employed approximately 4,250 people. Kemira shares are listed on the NASDAQ OMX Helsinki Ltd.
www.kemira.com

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2014 08 20 073553 kemira logo 2014Kemira will implement a price increase of up to 15 % for selected AKD (alkyl ketene dimer) based sizing products in EMEA. The adjustment will be immediately implemented or as the existing AKD-sizing contracts allow. The price adjustment is a result of increased costs within the AKD-wax supply chain. AKD-wax  is the main raw material for AKD-sizing products.
 
For more information:

Harri Eronen
VP, Sales & Technical Service, Paper EMEA
Tel. +49 171 802 8790
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Alex Wahl
Sr Marketing Manager, Sizing, Paper
Tel. +43 664 182 2127
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Thursday, 07 May 2015 06:49

Kemira Oyj issues a EUR 150 million bond

kem zelKemira issues a senior unsecured bond of EUR 150 million. The seven-year bond matures on May 13, 2022 and it carries a fixed annual interest of 2.250 percent. The offering was allocated to approximately 50 investors. Kemira will apply for the listing of the bond on NASDAQ OMX Helsinki.

The proceeds from the bond offering will be used for general corporate purposes.

Danske Bank and SEB acted as lead managers for the transaction.

For more information, please contact

Kemira Oyj
Petri Castrén, CFO
+358 40 532 7639

Tuomas Kivimäki, VP, Treasury
+358 10 862 1778

Tero Huovinen, VP, Investor Relations
+358 10 862 1980

Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise, application know-how and chemicals that improve our customers' water, energy and raw material efficiency. Our focus is on pulp & paper, oil & gas, mining and water treatment. In 2014, Kemira had annual revenue of EUR 2.1 billion and around 4,250 employees. Kemira shares are listed on the NASDAQ OMX Helsinki Ltd.
www.kemira.com
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kem zelKemira has completed the acquisition of AkzoNobel paper chemicals business announced on July 8, 2014.

The value of the transaction is EUR 153 million and it will become cash-effective in the second quarter of 2015. The acquired business is expected to increase revenue by more than EUR 200 million on an annualized basis as of the completion date.

As communicated earlier, six of the AkzoNobel paper chemicals manufacturing sites and approximately 350 employees will be transferred to Kemira. Kemira will also increase the production capacity of its own paper chemical manufacturing sites in order to realize expected production synergies. The integration period of the transaction is expected to last approximately two years and result in EUR 15 million net synergies on an annualized basis. The production sites to be transferred to Kemira are located in South Korea, Thailand, Indonesia, Australia, Spain and Italy.

“This acquisition strengthens our market position, especially in the growing APAC region. It also enables substantial efficiency improvements in our global paper chemicals manufacturing network. Most importantly, we gain new competencies and technological capabilities through 350 paper chemical experts and six manufacturing facilities – extending our ability to deliver best in business expertise and services to our customers. I want to warmly welcome all the new employees to Kemira, now the only pulp and paper chemistry provider with a truly global reach, says Jari Rosendal, Kemira’s President and CEO.”

For more information, please contact

Mats Rönnbäck, Interim President, Segment Paper & APAC

Tel. +85 262 170 122

Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise, application know-how and chemicals that improve our customers’ water, energy and raw material efficiency. Our focus is on pulp & paper, oil & gas, mining and water treatment. In 2014, Kemira had annual revenue of EUR 2.1 billion and around 4,250 employees. Kemira shares are listed on the NASDAQ OMX Helsinki Ltd.

www.kemira.com

More information about the key customer benefits of the acquisition:

http://pages.kemira.com/extend-your-capabilities

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Logo slogan belowThis is a summary of the January - March 2015 Interim report. The complete January - March 2015 Interim report with tables is attached to this release and available at www.kemira.com/investors.

  • Revenue increased 4% to EUR 553.0 million (529.9) supported by favorable currency exchange rates. Revenues in local currencies, excluding acquisitions and divestments remained flat.
  • Operative EBITDA increased 15% to EUR 66.4 million (57.5) with a margin of 12.0% (10.9%).
  • Earnings per share decreased to EUR 0.16 (0.28). Comparable period included a capital gain of EUR 37 million related to the divestment of formic acid business.
  • Kemira maintains its outlook for 2015.

Kemira's President and CEO Jari Rosendal: 

"Kemira's year started according to plan. The revenue in the first quarter increased by 8%, excluding the impact of the divested formic acid business in Q1 2014. Operative EBITDA margin improved from 10.9% to 12.0% in Q1 2015. The strengthened U.S. dollar was the main reason for revenue growth. Nearly 40% of Kemira's revenue is either directly U.S. dollar-based or linked to the U.S dollar, like the Chinese renminbi.

Growth in the Paper segment was solid in the first quarter, supported by favorable currency exchange rates and stable organic growth. Organic growth was driven by increased sales of new innovative solutions to our packaging board and paper customers, thus improving their operational efficiency as well as their end-product quality. In addition, pulp chemical deliveries to Montes del Plata pulp mill in Uruguay continued in line with the ramp up of the new mill.

In the Oil & Mining segment, demand for our products for US shale operations has slowed down in Q1 due to significant reduction in the drilling and fracking activity in the region. Uncertainty around the US shale operations is expected to continue at least for the next couple of quarters. Strong U.S. dollar alleviates the situation to some extent but reaching topline growth in the Oil & Mining segment will be challenging in 2015. In the longer term, we remain optimistic about the growth in the business.

I am pleased with the continued good progress in the Municipal & Industrial segment. The segment's revenue has stabilized after the restructuring period, and profitability has improved substantially, over 30% in the first quarter of 2015.

The closure of AkzoNobel's paper chemical business acquisition is now expected to take place in Q2 2015, due to the pending approval from the competition authority in Ukraine. Our readiness to start the integration is very good.

I consider Kemira to be well positioned to focus on growth with clear strategic objectives, customer-driven innovation, responsible business practices, and engaged and skilled professionals."

KEY FIGURES AND RATIOS

EUR million  Jan-Mar 2015 Jan-Mar 2014 2014
Revenue 553.0 529.9 2,136.7
Operative EBITDA 66.4 57.5 252.9
Operative EBITDA, % 12.0 10.9 11.8
EBITDA 65.2 77.7 252.9
EBITDA, % 11.8 14.7 11.8
Operative EBIT 39.1 36.3 158.3
Operative EBIT, % 7.1 6.9 7.4
EBIT 37.8 54.3 152.6
EBIT, % 6.8 10.2 7.1
Share of profit or loss of associates 0.2 0.0 0.2
Financing income and expense -7.5 -5.3 -30.7
Profit before tax 30.5 49.0 122.1
Net profit 26.4 43.1 95.8
Earnings per share, EUR 0.16 0.28 0.59
Operative earnings per share 0.13 0.15 0.63
Capital employed* 1,466.2 1,460.0 1.427.7
Operative ROCE* 11.0 10.8 11.1
ROCE* 9.3 4.0 10.7
Capital expenditure 27.0 25.6 145.1
Cash flow after investing activities 16.0 130.3 75.2
Equity ratio, % at period-end 48 50 51
Gearing, % at period-end 49 30 42
Personnel at period-end 4,285 4,267 4,248

*12-month rolling average (ROCE, % based on the reported EBIT)

Definitions of key figures are available at www.kemira.com > Investors > Financial information. Comparative 2014 figures are provided in parentheses for some financial results, where appropriate. Operative EBITDA, operative  EBIT, operative earnings per share and operative ROCE do not include non-recurring items.

KEMIRA'S FINANCIAL TARGETS FOR 2017 AND OUTLOOK 2015 (UNCHANGED)

Kemira will continue to focus on improving its profitability and operative cash flow. The company will also continue to invest in order to secure future growth to serve selected water intensive industries.

The company's financial targets for 2017 are:

  • revenue EUR 2.7 billion
  • Operative EBITDA-% of revenue 15%
  • gearing level <60%.

Kemira expects its capital expenditure-to-sales ratio, excluding acquisitions to increase in the next few years from the 2014 level of 6.3%. In addition, Kemira expects its medium-term operative tax rate to be in the range of 22%-25%. This rate excludes non-recurring items.

The basis for growth is the expanding market for chemicals and Kemira's expertise that helps customers in water intensive industries to increase their water, energy and raw material efficiency. The need to increase operational efficiency in our customer industries creates opportunities for Kemira to develop new products and services for both current and new customers. Research and Development is a critical enabler of organic growth for Kemira, providing differentiation capabilities in its relevant markets. Kemira will invest in innovation, technical expertise, and competencies in its selected focus areas.


Outlook for 2015

In 2015, Kemira will focus on profitable growth both organically and inorganically. Kemira's revenue in 2015 is expected to increase compared to 2014 and operative EBITDA in 2015 to remain approximately at the same level or to increase compared to 2014. The outlook excludes the impact of AkzoNobel paper chemical business (acquisition expected to close in the second quarter of 2015). At closing, AkzoNobel paper chemical business is expected to add revenue of more than EUR 200 million on an annualized basis.

Helsinki, April 24, 2015

Kemira Oyj

Board of Directors

FINANCIAL CALENDAR 2015 AND 2016

Interim Report January-June 2015                               July 22, 2015
Interim Report January-September 2015                      October 23, 2015
Financial Statements Bulletin 2015                             February 11, 2016
Interim Report January-March 2016                             April 26, 2016
Interim Report January-June 2016                               July 21, 2016
Interim Report January-September 2016                      October 25, 2016
Kemira Capital Markets Day will be held in Espoo R&D Center, Finland on September 17, 2015.

Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise, application know-how and chemicals that improve our customers' water, energy and raw material efficiency. Our focus is on pulp & paper, oil & gas, mining and water treatment. In 2014, Kemira had annual revenue of EUR 2.1 billion and around 4,250 employees. Kemira shares are listed on the NASDAQ OMX Helsinki Ltd.
www.kemira.com

Link to the release

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Kemira rgb negKemira has been awarded a start-up contract in the Woops project of Stora Enso Varkaus mill in Finland. During the project the current fine paper machine will be converted into kraft liner production. The machine conversion will take place in August-September 2015, and the start-up of the rebuilt machine is scheduled for Q4/2015.

The rebuilt machine will have a production capacity of 390 000 Mt/a of high quality kraft liner. Kemira supplies the machine with retention and drainage chemistries, sizing agents and various process chemicals.

”This deal is a good example of our focus to supply process chemicals for growing packaging board production globally”, says Harri Eronen, VP, Sales & Technical Service, Paper EMEA. “Due to our strong application knowhow, large reference base and experience in packaging boards Kemira is well positioned to serve the packaging industry.”

In addition to start-up chemicals, Kemira provides relevant expertise and knowledge to support Stora Enso Varkaus mill to reach the desired quality and productivity targets of the new board grade.

“Woops is an important project for Kemira, and we will work closely together with Stora Enso Varkaus mill to solve any challenges of the conversion as well as to ensure optimal performance of the machine”, says Kimmo Strengell, Marketing Manager, Paper, EMEA. “We have unique expertise in applying chemicals and supporting board producers to constantly improve their operational efficiency and product quality.”

Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise, application know-how and chemicals that improve our customers’ water, energy and raw material efficiency. Our focus is on pulp & paper, oil & gas, mining and water treatment.

More information:

Harri Eronen, VP, Sales & Technical Service, Paper, EMEA
This email address is being protected from spambots. You need JavaScript enabled to view it.
+49 171 802 8790

Kimmo Strengell, Marketing Manager, Paper, EMEA
This email address is being protected from spambots. You need JavaScript enabled to view it.
+358 50 351 6993

www.kemira.com

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Logo slogan belowKemira's acquisition of AkzoNobel's paper chemical business was announced on July 8, 2014. Closing of the transaction was expected during the first quarter of 2015 and is subject to customary closing conditions, including completion of employee consultation proceedings and approvals of competition authorities in certain countries.

Employee consultation proceedings have been completed and competition approvals have been received, except the approval from Ukrainian competition authority, thus delaying the expected closing of the transaction to Q2 2015.

Revenue of the transaction scope in Ukraine is less than 1% of the total transaction scope revenue.

For more information, please contact

Kemira Oyj

Tero Huovinen, VP, Investor Relations

+358 10 862 1980

Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise, application know-how and chemicals that improve our customers' water, energy and raw material efficiency. Our focus is on pulp & paper, oil & gas, mining and water treatment. In 2014, Kemira had annual revenue of EUR 2.1 billion and around 4,250 employees. Kemira shares are listed on the NASDAQ OMX Helsinki Ltd.
www.kemira.com

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2015 03 17 061444GE and Kemira today announced a formal distribution agreement, which combines GE's advanced water technology with Kemira’s on-site services to deliver a seamless offering to the global pulp and paper industry.

For the first time, GE’s newest and most advanced boiler and utility area cooling product technologies as well as membrane cleaning chemistry and the entire chemistry water portfolio is now available to the pulp and paper industry. Also included are the remote monitoring and diagnostics products—including the InSight* Knowledge Management Solution and TrueSense*—and Novus* polymers for wastewater treatment. Pulp and paper manufacturers also will have access to experts at GE’s Service Reliability Center for 24-hour monitoring and support, all backed by both GE and Kemira on-site expertise.

“Kemira has long been recognized as a technology leader, supplying process, functional and bleaching chemistry solutions to producers of pulp, packaging and board, tissue and towel and printing and writing grades globally. This makes Kemira an ideal partner to bring GE’s water products and services to the paper industry and now positions Kemira with the broadest technical and product portfolio in the industry,” said Billy Ford, senior vice president, paper, Kemira. “After a successful 18-month pilot program with GE in the Americas, we have increased the scope of our alliance to offer a comprehensive water treatment solution to the global pulp and paper market.”

“Pulp and paper mills use vast amounts of water to create an end product while also generating considerable wastewater. GE is eager to bring our water solutions to the pulp and paper industry, and Kemira is well-positioned to bring our advanced technologies to their customers,” said Kevin Cassidy, chemical and monitoring solutions general manager—water and process technologies for GE Power & Water.

About Kemira

Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise, application know-how and chemicals that improve our customers' water, energy and raw material efficiency. Our focus is on pulp & paper, oil & gas, mining and water treatment. In 2014, Kemira had annual revenue of EUR 2.1 billion and around 4,250 employees. Kemira shares are listed on the NASDAQ OMX Helsinki Ltd.

About GE

GE (NYSE: GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com

About GE Power & Water

GE Power & Water provides customers with a broad array of power generation, energy delivery and water process technologies to solve their challenges locally. Power & Water works in all areas of the energy industry including renewable resources such as wind and solar; biogas and alternative fuels; and coal, oil, natural gas and nuclear energy. The business also develops advanced technologies to help solve the world’s most complex challenges related to water availability and quality. Power & Water’s six business units include Distributed Power, Nuclear Energy, Power Generation Products, Power Generation Services, Renewable Energy and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE’s largest industrial business.

Follow GE Power & Water and GE’s water business on Twitter @GE_PowerWater and @GE_Water.

* Trademark of General Electric Company; may be registered in one or more countries.

Angie Hansen

GE Power & Water

+1 215 942 3511

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Tuesday, 17 March 2015 06:05

Appointment in Kemira's management

Kemira rgb negMats Rönnbäck has been appointed as interim President, Paper segment and Asia Pacific region and member of Kemira's Management Board as of April 1, 2015. Mats is currently based in Hong Kong. As announced earlier this year, Petri Helsky will leave Kemira to take up the position of CEO of Metsä Tissue Corporation on April 16, 2015.

"The search for the new Paper segment leader is ongoing. To ensure that we continue to deliver on our growth strategy in Paper, Mats Rönnbäck will take on an interim basis the leadership of the segment and APAC region. Mats has been with Kemira since 1990 and has a vast experience in the pulp and paper business", said Jari Rosendal, Kemira's President and CEO.

For more information, please contact

Kemira Oyj
Leena Lie, SVP, Communications and Corporate Responsibility
Tel.  +358 10 862 1153

Tero Huovinen, VP, Investor Relations
Tel. +358 10 862 1980

Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise, application know-how and chemicals that improve our customers' water, energy and raw material efficiency. Our focus is on pulp & paper, oil & gas, mining and water treatment. In 2014, Kemira had annual revenue of EUR 2.1 billion and around 4,250 employees. Kemira shares are listed on the NASDAQ OMX Helsinki Ltd.
www.kemira.com
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Logo slogan belowThe Nomination Board proposes to the Annual General Meeting of Kemira Oyj that six members be elected to the Board of Directors and that the present members Wolfgang Büchele, Winnie Fok, Juha Laaksonen, Timo Lappalainen, Jari Paasikivi and Kerttu Tuomas be re-elected as members of the Board of Directors. In addition, the Nomination Board proposes Jari Paasikivi to be re-elected as the Chairman of the Board of Directors and Kerttu Tuomas to be re-elected as the Vice Chairman. All the nominees have given their consent to the position.

The Nomination Board proposes to the Annual General Meeting that the annual fees paid to the members of the Board of Directors would increase. The annual fee for the Chairman is proposed to be increased to EUR 80,000 from EUR 74,000 per year, for the Vice Chairman and the Chairman of the Audit Committee to EUR 49,000 from EUR 45,000 per year and for the other members to EUR 39,000 from EUR 36,000 per year. Annual fees have not been increased since 2011, except the annual fee for the Chairman of the Audit Committee which was increased in 2013. A fee payable for each meeting of the Board of Directors and the Board Committees is proposed to remain unchanged. A fee payable for each meeting would thus be as follows; members residing in Finland EUR 600, for the members residing in rest of Europe EUR 1,200 and for the members residing outside Europe EUR 2,400. Meeting fees have not been increased for the members of the Board of Directors residing in Finland since 2005, and for the members of the Board of Directors residing outside Finland since 2006. Travel expenses are proposed to be paid according to Kemira's travel policy.

In addition, the Nomination Board proposes to the Annual General Meeting that the annual fee be paid as a combination of the company's shares and cash in such a manner that 40% of the annual fee is paid with the company's shares owned by the company or, if this is not possible, shares purchased from the market, and 60% is paid in cash. The shares will be transferred to the members of the Board of Directors and, if necessary, acquired directly on behalf of the members of the Board of Directors within two weeks from the release of Kemira's interim report January 1 - March 31, 2015. The meeting fees are proposed to be paid in cash.

The Nomination Board has consisted of the following representatives: Pekka Paasikivi, Chairman of the Board of Oras Invest Oy as the Chairman of the Nomination Board; Kari Järvinen, Managing Director of Solidium Oy; Risto Murto, President and CEO, Varma Mutual Pension Insurance Company and Timo Ritakallio, Deputy CEO, Ilmarinen Mutual Pension Insurance Company as members of the Nomination Board and Jari Paasikivi, Chairman of Kemira's Board of Directors as an expert member.

For more information, please contact

Pekka Paasikivi, Chairman of the Kemira Nomination Board
+358 10 2868 100

Kemira Oyj
Tero Huovinen, VP, Investor Relations
+358 10 862 1980

Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise, application know-how and chemicals that improve our customers' water, energy and raw material efficiency. Our focus is on pulp & paper, oil & gas, mining and water treatment. In 2013, Kemira had annual revenue of EUR 2.2 billion and around 4,500 employees. Kemira shares are listed on the NASDAQ OMX Helsinki Ltd.
www.kemira.com

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