Scotland

Chemical site sold to German firm

A chemical plant inside the Grangemouth petrochemical complex has been sold by its Finnish owner to a German company.

KemFine, which has 200 employees and sales last year of £41m, was bought by Aurelius, based in Munich.

The UK company, which has its headquarters in Grangemouth, produces chemicals for the agrochemical, pharmaceutical and speciality chemical sectors.

Its operations range from development work to large-scale production.

It also supplies services to adjacent companies in the Grangemouth complex, including electricity, steam and wastewater treatment.

The Grangemouth operation was previously owned by the KemFine Group in Finland,

Ulf Bjorkqvist, chief executive of KemFine Group, said Aurelius "is a good, long-term owner" for its Grangemouth Scotland activities.

Aurelius intends to extend the plant's contract manufacturing, starting with extension of the wastewater treatment capacity and renewable power generation.

The purchase price and terms of the sale from the Finnish to the German owners have not been disclosed.