KemFine acquires Avecia Fine Chemicals

Published: 19-Sep-2005

Finnish fine chemicals company KemFine previously Kemira Fine Chemicals, has acquired Avecia Fine Chemicals, based in Grangemouth, Scotland, for an undisclosed sum.


Finnish fine chemicals company KemFine previously Kemira Fine Chemicals, has acquired Avecia Fine Chemicals, based in Grangemouth, Scotland, for an undisclosed sum.

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 £38m. Avecia Fine Chemicals will operate as KemFine UK Ltd. with immediate effect, and Tom Shields has been appointed managing director.

'In joining together with Avecia Fine Chemicals we have created a stronger global fine chemical company which will further extend our services to customers,' said KemFine ceo Ulf Bjoerkqvist. '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.'

  

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