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Published 7th February 2006

Kemira’s revenue for water-soluble fertilizers divided by half in 2005

Not surprisingly, the target of the Kemira’s group to dispose of its remaining assets and business operations in the fertilizer sector is now translating into financial figures. According to Kemira’s results for 2005 fiscal year, the water-soluble specialty fertilizer unit had revenue in 2005 of EUR 65.6 million (vs 120.8 in 2004) and reported an operating profit of EUR 0.4 million (vs a loss of 11.3 in 2004), including non-recurring income of EUR 4.4 million. The share of the results of the water-soluble fertilizer business’s associates which is stated below operating profit was a loss of EUR 3.7 million (vs a loss of 8.6 in 2004).

In July 2005, as already reported in our columns, Kemira and the other shareholders in Kemira Emirates Fertilizers Company sold their holdings in the company, which has been an affiliate that is part of Kemira’s water-soluble fertilizer business. The new owner is the Chilean company SQM Nitratos SA. At time of writing, Kemira still has a water-soluble specialty fertilizer associate in Jordan (Kemapco) and a joint venture in Italy (Biolchim)as well as a production line for soluble NPKs in Finland.