Kemira Chemicals Oy, a fully owned subsidiary of Kemira Oyj, has reached a settlement agreement with CDC  Project 13 SA and CDC Holding SA in the damage claim litigation in Amsterdam related to the Sodium chlorate business in 1994-2000.

The settlement concerns claims assigned to CDC based on which CDC claimed compensation for alleged damages relating to the alleged old infringement of competition law in the sodium chlorate business during 1994-2000 by Finnish Chemicals Oy. Kemira Oyj acquired Finnish Chemicals Oy (now Kemira Chemicals Oy) in 2005.

Kemira Chemicals Oy has agreed to pay compensation and costs to CDC a total of EUR 22.75 million. Kemira has recorded a provision of EUR 11.5 million in Q4 2019 related to the damage claim. The remaining EUR 11.25 million will be recognized as a cost (item affecting comparability) in Q2 2021.

“We are satisfied with the settlement as it removes the uncertainty related to a legacy litigation case for conducts in 1994-2000. This will now conclude the case for Kemira,” says Jari Rosendal, President and CEO.