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Eastern European Markets
NEWS RELEASE
August 3, 2005

Algol Chemicals expands into Ukraine

Algol Chemicals has established a subsidiary in the Ukrainian capital of Kiev to specialise in the trade and distribution of industrial chemicals throughout the country. The move further strengthens Algol´s chemical operations by expanding and connecting its Northern and Northeastern European market areas.

According to Raul Henriksson, Managing Director of Algol Chemicals, the Ukrainian market is very interesting: The country is highly industrialised and has a large population of 50 million, promising good growth potential.

The new company will comprise a sales office in Kiev with a local warehouse to be added later. Operations will be launched in autumn, and the main product groups will include raw materials for various industrial branches. Staff is being recruited locally in Ukraine. [02.08.2005]

www.algol.fi


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