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Kemira completes sale of food and pharmaceutical businesses

12:03 AM MST | March 1, 2013 | Deepti Ramesh

Kemira says that it has today completed the previously announced sale of the food and pharmaceutical businesses together with its acetate based chemicals business to Niacet (Niagara Falls, NY), for €82 million ($107 million). These businesses were a part of Kemira's ChemSolutions segment. Kemira had first announced plans for the divestment in December 2012. The businesses sold have combined annual sales of about €50 million and employ 90 people. A manufacturing site at Tiel, Netherlands, has been transferred from ChemSolutions to Niacet, but other...

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