Sterling Specialty Chemicals to acquire Kemira oil and gas business.

Sterling Specialty Chemicals, a global industrial chemicals group, agreed to acquire Kemira, a sustainable chemical solution for water-intensive industries, oil and gas business. Financial terms were not disclosed. “The divestment of the Oil & Gas business will clarify our focus on sustainability and our strategic priorities: we want to expand in water, build a leading renewables portfolio and digital services business. This move strengthens our capability to look for growth within our water treatment and Pulp & Paper businesses and also to explore new growth opportunities. With Sterling Specialty Chemicals LLC, we have found a committed owner for the Oil & Gas business enabling it to grow further. Our long-term partnership with Sterling Specialty Chemicals LLC will support the transition for our customers,” Petri Castrén, Kemira Interim President and CEO.