Kemira Oyj: Kemira and Wilmar to terminate joint venture agreement
August 19, 2014 at 1.00 pm (CET+1)
Kemira Oyj and Wilmar International Limited announced on November 1, 2013 the
signing of a joint venture agreement between the subsidiaries of Kemira and
Wilmar ("JVA") for the manufacture of AKD (alkyl ketene dimer) wax in China.
Kemira and Wilmar have now mutually agreed to terminate the JVA because of
changesto their commercial objectives.
For more information, please contact
Leena Lie, Senior Vice President, Communications and Corporate Responsibility
Tel +358 40 745 7943
Tero Huovinen, Vice President, Investor Relations
Tel. +358 10 862 1980
Wilmar International Limited
Iris Chan, Corporate Communications
Tel. +65 6216 0870
Lim Li Chuen, Investor Relations
Tel. +65 6507 0592
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 2013, Kemira had annual revenue of EUR 2.2
billion and around 4,500 employees. Kemira shares are listed on the NASDAQ OMX
Wilmar International Limited, founded in 1991 and headquartered in Singapore,
is today Asia's leading agribusiness group. Wilmar is ranked amongst the
largest listed companies by market capitalization on the Singapore Exchange.
Wilmar's business activities include oil palm cultivation, oilseed crushing,
edible oil refining, sugar milling and refining, specialty fat, oleochemical,
biodiesel and fertilizer manufacturing and grain processing. At the core of
Wilmar's strategy is a resilient integrated agribusiness model that
encompasses the entire value chain of the agricultural commodity processing
business, from origination and processing to branding, merchandising and
distribution of a wide range of agricultural products. It has over 450
manufacturing plants and an extensive distribution network covering China,
India, Indonesia and some 50 other countries. The Group is backed by a
multinational workforce of about 90,000 people.
Wilmar's portfolio of high quality processed agricultural products is the
preferred choice of the food manufacturing industry, as well as the industrial
and consumer food catering businesses. Its consumer-packed products occupy a
leading share in its targeted markets. Through scale, integration and the
logistical advantages of its business model, Wilmar is able to extract margins
at every step of the value chain, thereby reaping operational synergies and
cost efficiencies. Wilmar remains a firm advocate of sustainable growth and is
committed to its role as a responsible corporate citizen.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: Kemira Oyj via Globenewswire
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