Finland's Kemira to divest Galvatek subsidiary

13 August 2008 08:46  [Source: ICIS news]

MUMBAI (ICIS news)--Finland's Kemira is planning to divest its subsidiary Galvatek as part of its strategy to concentrate on water and fiber related businesses, an official from the company said on Wednesday.

Galvatek supplying materials for surface treatment plants and industrial water treatment plants as well as maintenance services.

“Because in June, Kemira took a new strategy and will focus on non core activities leaving no room for Galvatek,” Kemira water, industrial and environmental services vice-president Per Andersson told ICIS news.

The process had just begun and was expecting the divestment to be completed by year-end, he added.

The firm posted revenues of around €16m ($23.8m) in 2007 and runs two subsidiaries, one in Sweden and one in Poland.

($1= €0.67)

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By: Staff Reporter
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