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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Kemira plans further restructuring, announces financial targets for 2016

1:26 PM MDT | May 21, 2013 | —Ian Young

Kemira has announced several major restructuring measures and issued profitability and sales targets for 2016. The measures are in addition to the company’s Fit for Growth restructuring program, details of which were announced in mid-2012. Fit for Growth targets an Ebit margin of at least 10% in 2014 compared with 1.5% in 2012. The latest measures include permanent closure of Kemira’s site at Vaasa, Finland, by the end of 2013 with the likely loss of 60 jobs. The closure is expected to lead to annualized cost savings of €5 million ($6.4 million)...

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