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KemFine acquires Avecia Fine Chemicals Limited

Published on 2005-09-20. Author : SpecialChem

KemFine Limited, Finland and Avecia Group Plc announced that KemFine has acquired Avecia Fine Chemicals Limited based in Grangemouth, Scotland. Financial details were not disclosed.

The combined business will create a major new force in the global fine chemical sector, with a leading position in the supply of contract manufacturing services to the agrochemicals, pharmaceutical and specialty chemical industries.

The acquisition includes all Avecia Fine Chemicals' assets and operations on the 65 hectare site at Grangemouth in Scotland. All 310 Avecia Fine Chemicals' employees are included in the transaction. In 2004, the business recorded sales of GBP 38 million.

Ulf Björkqvist, Chief Executive Officer KemFine Ltd., said: "In joining together with Avecia Fine Chemicals we have created a stronger global Fine Chemical company which will further extend our services to customers." He added: "The two businesses are an excellent fit and our combined technology strengths and asset capabilities will provide significant opportunities for growth from our dual manufacturing bases in Finland and Scotland. "

Tom Shields, Vice President Avecia Fine Chemicals said: "I am delighted that we have been able to join forces with such an established and successful company as KemFine." He added: "We have a great deal of experience and technology strengths in this sector which are underpinned by a highly skilled workforce. This acquisition will enable us to fast track our growth agenda with a dedicated focus on the contract manufacture of fine chemicals."

Avecia Fine Chemicals Limited will operate as KemFine UK Ltd. with immediate effect. Tom Shields is appointed Managing Director of KemFine UK Ltd. based at the Grangemouth Site.

KemFine, previously Kemira Fine Chemicals Oy, was created via an MBO of the business from Kemira in 2004. 3i, a world leader in the private equity and venture capital, supported the management team in the transaction and in the equity funding.

Source: Avecia


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