Industry News

Kemira: Tikkurila to Establish a Trading Company in Romania Jointly with Slovenian-Based JUB

Published on 2008-05-07. Author : SpecialChem

Following its strategy of growth, Tikkurila, which is responsible for Kemira's paints and coatings business, will strengthen its position in the Southeasteuropean paint market. The company has agreed to establish a trading company by the name of Tikkurila JUB Romania with the paint company JUB of Slovenia based on equal partnership. The parties have agreed on not disclosing any financials details.

The new company will be responsible for the marketing, sales and distributing of Tikkurila's and JUB's decorative paints in Romania. With its office and warehouse in Bucharest, Tikkurila JUB Romania is due to start its operations as from 1 July 2008.

The Romanian paint market is expected to grow at double digit figures during the next few years. Especially demand in the medium and premium price segments will increase. The estimated size of the Romanian paints market is EUR 170-180 million on an annual basis.

Source: Kemira Coatings

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