Forchem lists to bond market in Helsinki Stock Exchange
Forchem Oyj´s bond has been listed in Helsinki Stock Exchange on 30 June 2016. In July 2015, Forchem Oy issued senior secured notes with an aggregate nominal amount of EUR 70 million. The notes are represented by units in denominations of EUR 100,000. The rate of interest of the notes is 4.90 % per annum.
The company, established in 2002, is one of the leading tall oil suppliers in Europe today. Forchem produces high quality chemical products of tall oil, collected as the by-product of kraft pulping process. Products, such as biodistillates, tall oil rosin and other special chemicals are commonly used in chemical- and feed industries.
Forchem is one of the strongest cleantech companies in Finland. The company’s products are based on 100 year old Finnish innovation and they are a renewable, sustainable option for synthetic and raw oil based adhesives in manufacturing business. Tall oil based products are used for example in paint-, gum-, glue-, and adhesive industries as well as in feed industry, which is close to food industry. Tall oil can also be used to produce biofuel.
Last year the company’s revenue was € 133 million with an outstanding net profit of € 13 million. Forchems’ revenue declined from € 154 million last year, which can be explained by the general low price level of the oil market. Forchem is owned by Portuguese Respol.
Forchem was transferred to Respol in 2013 after the MB Funds renounced the company. At this time Forchem’s ownership was transferred to Respol Finland Oy. In April 2016, Forchem Oy merged into the parent company Respol Finland Oy. On the same occasion the name of Respol Finland Oy was changed to Forchem Oyj in order to ease the bond listing in the future.
Press Release 30.6.2016
For more information:
Henrik Lindegrén, CFO, p. +358 44 032 1075, firstname.lastname@example.org
Risto Näsi, CEO, p. +358 50 315 1858, email@example.com