CABB completes the acquisition of Finnish KemFine Group Oy
Sep. 8, 2011
CABB, the German global provider of chemical building blocks, fine and specialty chemicals and custom manufacturing solutions, completes the acquisition of the Finnish KemFine Group Oy after successful merger clearance.
KemFine and CABB custom manufacturing and product portfolio are highly complementary.
CABB is one of the world’s leading suppliers of chemical building blocks based on chlorine and acetic acid and is the world market leader in monochloroacetic acid (MCAA), an essential component used in a wide range of applications ranging from herbicides, personal care to the food industry. It is also a leading custom manufacturer for global agrochemical, food, pharma and chemical companies. In 2010 CABB employed 750 people and had a turnover of € 311 million.
KemFine Group Oy focuses on the custom manufacturing of fine chemicals for the global agro and pharma industry. It is headquartered in Helsinki and operates a production facility in Kokkola, Finland. It has approximately 190 employees and in 2010 had sales of € 81 million.
CABB chief executive Dr. Martin Wienkenhöver said: “KemFine is absolutely the right partner to help us grow and develop the business. Especially in the area of custom manufacturing KemFine’s and CABB’s product portfolios are highly complementary.“ The combination of the two companies will expand the customer base and signals to agrochemical customers a strong commitment to the industry. KemFine together with CABB will rank as the third largest agrochemicals custom manufacturer globally. Wienkenhöver: „We are very happy to have found with KemFine Group Oy the right partner for the acceleration and further manifestation of our growth strategy.” Since 2005 CABB tripled its sales figure to more than € 400 million.
KemFine established a leading position in the market and created a well-diversified product portfolio. Ulf Björkqvist, KemFine chief executive commented: „As we move into the next stage of our development with CABB, we will be focused on working in partnership to grow our joint business and sharing our combined customer and supplier base. This is a logical step for KemFine to further expand its field of expertise.”
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