Kemira Acquires Soto Industries
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Kemira Oyj, Finland, this past week signed an agreement to acquire Soto Industries Inc, a privately owned company headquartered in Vancouver, B.C., Canada. Soto is a specialty chemicals and services supplier to the pulp and paper industry. The parties agreed not to disclose the transaction price.
Soto supplies a broad range of specialty chemicals including digester scale control, silicone and oil-based defoamers, and polymers used in green liquor clarification and effluent treatment for pulp and papermaking.
"This acquisition helps us accelerate our strategic plan and secures our position as a leading supplier to the pulp and paper industry in North America. It also supports Kemira's objective of achieving above-the-market growth in the mature markets. In addition to the strong strategic fit, the transaction is expected to result in synergies through raw material, logistics, and fixed cost savings," said Billy Ford, SVP, Paper segment, North America.
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