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Kemira Oyj, a Finnish chemicals maker, is acquiring Cytec's water treatment chemical business. The purchase price is approximately $240 million. With this acquisition, Kemira’s revenue in the water treatment business is expected to double.
Cytec's water treatment line consists primarily of products in industrial and municipal wastewater treatment. The acquisition includes five production plants located in the US, the Netherlands and England, with businesses in the US, South America, Asia and Europe. The total number of employees is about 480, including sales, marketing, manufacturing, R&D and technical services personnel.
"This acquisition is in line with Kemira's growth strategy and is a major step to expand our market potential and growth opportunities in the water treatment chemical business. With this acquisition, we can significantly broaden our current product portfolio and gain greater geographical presence in key markets and inside key customer segments," said Mats Jungar, president of Kemira's Kemwater Business Area. "Cytec completes our current service and product portfolio and improves our strategic position globally. This acquisition will strengthen our position as a global leading supplier of coagulants and flocculants."