Angus MacDonald Welcomes Aurelius Purchase of KemFine Plant
Sunday, 21 November 2010 17:35
Confirmation came this weekend that Grangemouth's KemFine chemical plant has been sold by its Finnish owner to a German company, Munich based Aurelius.
The purchase has been welcomed by the SNP 's candidate for Falkirk East, Grangemouth Councillor Angus MacDonald who said the sale helps secure the long-term future of the plant.
200 employees are based at the Grangemouth plant which had sales last year of £41m.
The plant produces chemicals for the agrochemical, pharmaceutical and speciality chemical sectors.
Following confirmation that Munich based firm Aurelius has acquired Finnish/UK company KemFine’s Grangemouth plant, Grangemouth Councillor and SNP Economic Development Spokesperson Angus MacDonald commented:
“The acquisition of Kemfine by German firm Aurelius is extremely welcome news for Grangemouth in the current economic climate and helps secure the long-term prospects for the Grangemouth plant.
“Aurelius has a good track record in committing to long-term projects in previous acquisitions, which bodes well for the future of the Grangemouth plant and will be of great comfort to the 200 employees at the Grangemouth plant.”
Ulf Björkqvist, CEO of KemFine Group Oy, said:
“KemFine Group Oy is happy to confirm the sale of KemFine UK Ltd to AURELIUS and believes that AURELIUS is a good, long-term owner for its Grangemouth Scotland activities.”
AURELIUS plans to focus the business on the extension of its contract manufacturing by expanding its product portfolio and acquiring new projects. The firm said first meetings with customers have been very positive. The service sector will be supported by selected investments. A first measure is the planned increase of the current wastewater treatment plant’s capacity and the expansion of a cogeneration plant based on renewable fuel. After its spin-off from the KemFine Group Oy the company will operate under a new name which still has to be announced.
The purchase price and terms of the sale from the Finnish to the German owners have not been disclosed.