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Kemira: Closing of deal between Tikkurila and Russian industrial coatings companies

Published on 2007-04-13. Author : SpecialChem

Kemira follows its strategy of strengthening its market position in Eastern European paint markets. The transaction by which Tikkurila, which is responsible for Kemira's paints and coatings business, acquires 70% of two St Petersburg-based paint companies by the name of OOO "Gamma" and OOO "Ohtinski zavod poroshkovyh krasok ", has been concluded. The parties have agreed on not disclosing any financials details.

Gamma is one of the most significant producers of metal industry coatings in Russia with net sales of approx. EUR 8 million and a staff of 110. Ohtinski zavod poroshkovyh krasok manufactures and markets powder coatings under its own OHTEK brand. The company has net sales of some EUR 3 million and it employs 50 people.

The acquired companies will continue their operations as new companies under the names of OOO "Gamma Industrial Coatings" and OOO "Tikkurila Powder Coatings". The whole personnel will transfer to the new companies. The present management will continue both as management and minority shareholders of the new companies.

The acquisition will considerably increase Kemira's sales and market position in the Russian metal industry coatings market.

Kemira is a chemicals group made up of four business areas: Kemira Pulp&Paper, Kemira Water, Kemira Specialty and Kemira Coatings. It is a global group of leading chemical businesses with a unique competitive position and a high degree of mutual synergy. In 2006, Kemira recorded revenue of around EUR 2.5 billion and had a payroll of 9,000 employees. Kemira operates in 40 countries.

Kemira Coatings is the leading paint company in North and East Europe with net sales of EUR 563 million in 2006. The company has production units in seven countries and sales units in seven more countries. The product range comprises decorative paints and coatings for applications in wood-working and metal industry.

Source: Tikkurila

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