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Akzo Nobel Nordic Industrial Coatings Ops Transferred to Tikkurila

Published on 2002-12-16. Author : SpecialChem

The transaction between Tikkurila Coatings and Akzo Nobel on Akzo Nobel's Nordic general industrial liquid coatings activities has been finalized. The deal takes effect on 1 Jan 2003. Financial details of the deal were not disclosed.

The acquisition will significantly strengthen Tikkurila Coatings' market position in the Nordic Countries and the Baltic Sea area. Sales for Akzo Nobel's Nordic business in Finland, Sweden, Norway, Denmark and Poland were EUR 17 million in 2001.

Tikkurila Coatings Oy is part of the Tikkurila Group, a major paint manufacturer in Northern and Eastern Europe with production facilities in ten countries. Its main products are decorative paints, industrial wood finishes, paints for the metal industry, protective coatings and coil coatings. In 2001 the Group had net sales of EUR 445 million and a staff of 2,500.

Source: Kemira Group


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