Enso and UPM-Kymmene sell Forchem Oy

Enso Oy and UPM-Kymmene corporation today completed the disposal of jointly owned Forchem Oy to Arizona Chemical, a specialty products business of International Paper. Terms of the transaction were not disclosed. Enso previously owned 65 % of Forchem and UPM-Kymmene 35 %.
Forchem is a manufacturer and processor of tall oil and turpentine products with two plants, one at Oulu and one at Valkeakoski, both in Finland. In 1995, Forchem had sales of FIM 423 million, and has approximately 220 employees.