Teknos has entered into an agreement to acquire powder coatings business from Śnieżka in Poland. Through the acquisition Teknos gets ownership to the powder coatings production lines and strengthens its’ sales and R&D organization. The acquisition agreement was signed on 16 January 2017.
Acquisition to Open-up New Business Opportunities
| Teknos to Take Over Powder Coatings Business from Śnieżka
FFiL Śnieżka SA is a main company within the Śnieżka Capital Group and one of the leading manufacturers of paints and varnishes in Poland and Central and Easter Europe. Currently, Śnieżka is the only paint manufacturer listed on the Warsaw Stock Exchange, it is also the only one controlled by the Polish capital. The production facilities of Śnieżka located in Poland, Ukraine and Belarus manufacture annually about 140m liters of various chemical products addressed to domestic and foreign markets.
Teknos to Strengthen its R&D Capabilities
Teknos’ vision is to be one of the leading suppliers of technically advanced coating solutions - close to customers. Through the acquisition of powder coatings business from Śnieżka, Teknos will strengthen its’ R&D and production capabilities closer to the growing Polish market
and shorten the supply chain for special products.
“The acquisition of powder coatings from Śnieżka supports Teknos’ growth strategy. We have been developing our powder coatings business for many years with good success. The acquisition is a natural step for Teknos. This improves our service level in the powder coatings and opens-up new business opportunities in the Polish market
, says Lassi Tirkkonen, Group SVP, Metal Paints & Coatings, Teknos Group.
FFiL Śnieżka SA is a main company within the Śnieżka Capital Group and one of the leading manufacturers of paints and varnishes in Poland and Central and Easter Europe.
Teknos offers a wide range of high-quality paints and coatings for the manufacturing industry, building professionals and consumers. It focuses sharply on the quality and performance of its products, invest heavily in research and development, and have a strong focus on environmental issues to ensure people meet, and even exceed, today’s versatile needs.