Kemira's subsidiary Tikkurila Oy divested its tinting system business in the year 2000, whereby Kemira Oyj entered into a minority holding in CPS Color Group Oy which was established in connection with the divestment.
The sale of shares will not result in any significant gain for Kemira.
The yet unrecognized part of the capital gain from the sale in the year 2000 - due to Kemira remaining as a minority shareholder in CPS - will however be reported as income in this connection (approx. 16 million euros after taxes).
The sale of the remaining shares in CPS Color Group comes as a further step in Kemira Oyj's strategy whereby the Group is focusing on the development of its four core businesses. The Kemira Group's four core business areas are pulp and paper chemicals, water treatment chemicals, industrial chemicals, and paints and coatings.
For further information please contact:
Kemira Oyj
For further information please contact:
Kemira Oyj
Esa Tirkkonen, Deputy CEO, CFO
Tel. +358 (0)10 862 1500, GSM +358 (0)50 502 2738
Tel. +358 (0)10 862 1500, GSM +358 (0)50 502 2738