Page 136 - CW E-Magazine (20-2-2024)

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MILESTONE
Kemira completes the divestment of its oil & gas

related portfolio

Kemira has said it has completed the want to thank all transferring emplo- loss will be booked as an item affecting
divestment of its oil & gas related port- yees for their contribution to Kemira,” comparability. The revenue to be carved-
folio to Sterling Specialty Chemicals said Mr. Petri Castrén, Interim Presi- out from Kemira was around €430-mn in
LLC, a US subsidiary of Artek Group, dent and CEO at Kemira. 2022. This includes Oil & Gas revenue of
a global industrial chemicals group €373-mn in 2022. The remaining carved-
based in Mumbai. The divestment was “Today I am pleased to welcome out revenue of around €57-mn consisted
announced on December 4, 2023. new employees to the Artek Group and of non-oil & gas industrial polymer sales
to be part of our vision of becoming a through indirect channels that are pro-
The transaction enables Kemira to leading oil & gas specialty chemicals duced in manufacturing facilities within
focus on its core businesses and accele- player. The acquisition is a good strate- the scope of the transaction.
rate its profi table growth strategy by gic fi t for us and we are looking forward
focusing on growing in water treatment, to exploring exciting future growth Approximately 250 employees will
building a leading renewable solutions opportunities,” noted Mr. Vishal Goenka, transfer to the buyer as part of the transac-
portfolio, and creating a digital services Director, Artek Group. tion, which includes Kemira’s manufac-
business. “The divestment of Oil & Gas turing facilities in Mobile, Columbus and
is an important step on our transforma- Financials Aberdeen in the US and the novel liquid
tion journey and it will clarify our focus The total consideration on a cash and polymer (NLP) manufacturing assets in
on sustainability and our strategic prio- debt-free basis amounts to approximately Botlek, the Netherlands. The closing of
rities. We are now in a strong position $280-mn, subject to ordinary closing the Teesport manufacturing facility in the
to look for growth opportunities in line adjustments. Kemira expects to record a loss UK is expected to happen later, subject to
with our strategy. At the same time, I of around €97-mn during Q4 2023. The site-specifi c closing conditions.

FORTHCOMING EVENT
British Safety Council India to host global

conference on safety and wellbeing

The British Safety Council India to understand process safety management rence include: Mr. Ian Travers, former
(BSC India) is set to host the ‘360 and the tools used to enable it. According Deputy Director of Chemicals Regula-
Degree Safety and Wellbeing Transforma- to Mr. Mike Robinson, Chief Executive, tion, UK, and a world expert in process
tion Conference’, a global summit on BSC, the conference is designed to focus safety management; Mr. Nick Wharton,
wellbeing and safety. The conference on holistic safety transformation, ensur- a Health & Safety professional who
will be held on 19th March in Mumbai ing comprehensive and forward-thinking specialises in Safety Culture Change
and 21st March 2024 in New Delhi. safety practices. “The conference will and Behavioural Safety; Mr. Stephen
showcase best practices, emerging trends, Haynes, Director of Wellbeing at BSC
The event will see global health and and successful strategies from around the UK; Suresh Tanwar, Head of Audit and
safety experts sharing knowledge on world. Participants will deep dive into Consultancy, BSC India; and Mr. M. Kama-
transformational safety performance, pro- successful safety transformations, learn rajan, Head of Education, BSC India.
cess safety management, cultural leader- from challenges, and gain practical solu-
ship, risk management, risk profi ling, and tions. I am confi dent all attendees will The conference is open to all health,
promoting employee wellbeing. Atten leave with actionable takeaways that can safety, and wellbeing professionals.
dees will gain valuable insights on tech- be implemented immediately in their To register: https://www.britsafe.in/
nical and non-technical practices around organisations.” awards-and-events/events/confe-
health, safety, and wellbeing, and to learn rences/360-safety-and-wellbeing-trans-
from real-life examples of safety leaders Top keynote speakers at the confe- formation-conference

136 Chemical Weekly February 20, 2024

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