Helsinki, Finland 20 September 2013 -- Kemira has signed an agreement to acquire Soto Industries Inc, a privately owned company, headquartered in Vancouver, Canada. Soto is a specialty chemicals and services supplier to the pulp and paper industry.
Soto supplies a broad range of specialty chemicals including digester scale control, silicone and oil-based defoamers, and polymers used in green liquor clarification and effluent treatment for pulp and papermaking.
"This acquisition helps us accelerate our strategic plan and secures our position as a leading supplier to the pulp and paper industry in North America. It also supports Kemira's objective of achieving above-the-market growth in the mature markets. In addition to the strong strategic fit, the transaction is expected to result in synergies through raw material, logistics and fixed cost savings." says Billy Ford, Senior Vice President, Paper segment, North America.
The transaction does not have material impact on Kemira's financial figures and the parties have agreed not to disclose the transaction price.
Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise 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 2012, Kemira had annual revenue of EUR 2.2 billion and around 4,900 employees. Kemira shares are listed on the NASDAQ OMX Helsinki Ltd.