The venture capital company 3i together with the executive management acquired Kemira Fine Chemicals Oy in September of last year. Along with the investment of some 70 million euros, the company's name changed to KemFine Oy.

KemFine's aim is to strengthen its position as the principal supplier of organic fine chemicals for various industrial sectors such the agrochemical and pharmaceutical industries.

"The new ownership base will create an excellent foundation for developing the business operations in accordance with the chosen strategy," says KemFine's CEO, Ulf Björkqvist.

"As decision-making has been delegated to the executive management, we can act quickly, which is a basic requirement for successful business. The scope for risk-taking and investment and also growth expectations are now bigger."

Expertise attractive

3i, which is one of the leading venture capital companies in Europe, became interested in Kemira Fine Chemicals Oy because of the attraction of the company's highly skilled management team, expertise in its sector, and stable and predictable business operations.

"KemFine's activities have started very positively. The capacity utilization is high. We expect growth, profitability and cash flow," says investment manager Kalle Helander from 3i.

Helander says that Finland is an interesting target for investment because there is a great deal of expertise in different fields, and that means not just telecommunications, e.g. in the forest and chemical industries.

"The people are highly skilled, unafraid of work and honest. Finland's location near developing markets, such as the Baltic States and Russia, will create opportunities for foreign operators. Finland's experience of trading with these areas is highly appreciated," states Helander.

>> www.kemfine.com
>> www.3i.com
>> Expertise brings investment (22.4.2005)
>> Habbo Hotel expands to Asia (22.4.2005)

KemFine Oy's customers are worldwide chemical companies.