Kemira Expands Its Cosmetics Industry Presence Through Acquisition of U.S.-Based Tri-K Industries
Tuesday April 3, 5:46 am ET
HELSINKI, Finland, April 3, 2007 (PRIME NEWSWIRE) -- Kemira Oyj is acquiring all holding in the privately owned North American company TRI-K Industries Inc. The transaction also includes Maybrook Inc., a wholly owned subsidiary of TRI-K.
TRI-K Industries Inc. is a distributor and producer of specialty ingredients to the cosmetics and personal care markets. Headquartered in New Jersey, U.S., with additional operations in Massachusetts, TRI-K currently employs 50 people and recorded consolidated revenue of approximately USD 20 million in 2006.
"This acquisition provides Kemira Specialty with an excellent platform to expand its cosmetics business,'' says Pekka Ojanpaa, President of Kemira Specialty. "Kemira Specialty is one of the leading suppliers of titanium dioxide products for the cosmetics industry and through TRI-K we can expand our offering especially in skin care and hair care. Furthermore, we will strengthen our presence in North America through the addition of TRI-K's extensive sales and distribution network.''
Financial terms of the acquisition were not announced.
Kemira Specialty is the leading supplier of specialty chemicals in selected customer segments, serving customers in a wide array of industries, such as the cosmetics, packaging inks, food, feed and detergent industries, through customer driven solutions.
Kemira is a chemicals group made up of four business areas: Kemira Pulp & Paper, Kemira Water, Kemira Specialty and Kemira Coatings. Kemira is a global group of leading chemical businesses with a unique competitive position and a high degree of mutual synergy.
In 2006, Kemira recorded revenue of around EUR 2.5 billion and had a payroll of 9,000 employees. Kemira operates in 40 countries.
Source: Kemira Oyj
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