Raisio buys RI's firm

Raisio buys RI's firm

HELSINKI (Reuter): Finnish food and chemicals group Raisio said yesterday its chemicals arm Raisio Chemicals had bought 50 percent of Indonesian PT Intercipta Kimia Pratama for an undisclosed sum.

"Intercipta's turnover this year will be around $5 million, and it employs 55 people," it said. "(It) makes hydrophobic sizing for the paper and board industry at a plant near Jakarta."

Raisio bought 40 percent of the company from Taiwanese Dan Che and 10 percent from Indonesian PT Purinusa Ekapersada.

Purinusa Ekapersada would retain the other 50 percent stake, it said.

Raisio is one of the world's leading producers of hydrophobic sizing, which are used as a binding substance to improve the quality of paper and in paper coating, a Raisio spokesman said by telephone.