Annual Report 1999 - Kemira

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Secondary segment - Geographical segment
1999 1998
Net sales
Finland 453.5 497.2
Other EU countries 1,324.5 1,275.3
Rest of Europe 211.7 206.1
North and South America 328.9 267.7
Asia 167.8 124.5
Other countries 39.8 41.9
Total 2,526.2 2,412.7
Assets (tangible and intangible fixed assets)
Finland 535.5 531.1
Other EU countries 603.8 608.8
Rest of Europe 34.5 27.9
North and South America 190.0 170.9
Asia 42.4 37.6
Other countries 1.7 –
Total 1,407.9 1,376.3
Capital expenditure
Finland 77.6 82.7
Other EU countries 58.9 71.0
Rest of Europe 9.8 8.6
North and South America 20.4 52.3
Asia 1.3 40.8
Other countries 0.1 0.1
Total 168.1 255.5
29. CHANGES IN GROUP STRUCTURE
Acquisitions of Group companies, and new subsidiaries that have been founded
• A. Jalander Eesti Oü, a wholly-owned subsidiary of A. Jalander Oy that was established in Estonia,
began operations.
• Kemira Agro Oy acquired a 50% stake in the Italian company Biolchim S.p.A., which will operate as a
joint venture.
• Tikkurila Paints Oy established a wholly-owned subsidiary in Moscow. The company’s name is
OOO Kraski Tikkurila.
• Kemira Agro Oy established an associated company in Dubai, United Arab Emirates, together with
Union Kemira Co. and Emirates Food Company (EFC). The holdings are 30%, 20% and 50%, respectively.
The company’s name is Kemira Emirates Fertilizer Company (Kefco).
• Kemira Agro Oy acquired a 33.3% holding in Farmit Website Oy, a company in Helsinki.
• Kemira Agro Oy established an associated company in Jordan under the name Kemira Arab Potash
Company. Its stake in the company is 48%. The new company is owned by Kemira Danmark A/S.
• Kemira Chemicals Oy established an associated company in China under the name Kemwater (Yixing)
Co., Ltd. The stake in the company is 49%.
• Kemira Chemicals Oy established in Hungary a wholly-owned marketing company named Kemira
Chemicals Hungaria KFT.
• On 21 December 1999 Kemira Chemicals Oy established in Canada a company named Kemira Chemicals
Canada NRO, Inc.
• In January 2000 Kemira Chemicals Oy and the City of Helsinki established a company named Kemwater
Services Oy, which will be engaged in the treatment of waste water. Kemira Chemicals Oy has a
51% holding in the company and the City of Helsinki has 49%.
• Kemira Agro increased its ownership in Chinese Kemira Compound Fertiliser (Zhanjiang) Co. Ltd. from
35% to 49%.
Changes in holdings in Group companies within the Group
• Kemira N.I. Ltd was merged with Kemira Agro U.K. Ltd, and Kemira Agro U.K. Ltd became the parent
company of Kemira Ireland Ltd.
• Kemira Chemicals Oy sold the company named Kemira Kemwater GmbH to Tikkurila Coatings Oy.
The company’s name was changed to Tikkurila Coatings GmbH.
• Corob S.p.A. was merged with Taotek S.p.A. on 31 December 1999. In connection with the merger,
Taotek S.p.A.’s name was changed to Corob S.p.A.
• In Denmark Kemira Oyj established a company named Kemira Danmark Holding A/S, to which
Kemira Danmark A/S was transferred from the ownership of Kemira Agro Oy and Kemira Miljø A/S
was transferred from the ownership of Kemira Kemi AB.
Name changes
• Taotek North America Inc changed its name to Corob North America Inc.
• Taotek Asia Ltd was renamed Corob Ltd.
• AS Tikkurila International Coatings was renamed AS Tikkurila Coatings.
• Kemira Color B.V.’s name was changed as from 1 January 2000 to Tikkurila Coatings B.V.
• Kemira Coatings Ltd’s name was changed as from 1 January 2000 to Tikkurila Coatings Ltd.
• Kemira Coatings (Ireland) Ltd’s name was changed as from 1 January 2000 to Tikkurila Coatings
(Ireland) Ltd.
35