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Tikkurila Plans to Start Paint Production in the Ukraine

Published on 2004-08-26. Author : SpecialChem

 

The Finland-based Tikkurila Oy, which is responsible for Kemira's paints and coatings business, has the intention to buy a 51% stake of the Kiev-based company Kolorit Paints. The negotiations are due to be concluded before the end of September 2004.

"Tikkurila aims at strengthening the Group's market position in the CIS countries. We have been exporting paints and coatings to the Ukraine since the beginning of the 1980s, and the acquisition of a majority stake in Kolorit Paints will further strengthen our position in the country," said Ilpo Jousimaa, Vice President, Region Deco Central and Western Europe.

Kolorit Paints produces water-borne varnish and paint materials with sales of approx. USD 2 million.

Tikkurila Oy is the parent company of the Tikkurila Group, a major paint manufacturer in Northern and Eastern Europe with net sales of EUR 440 million and 2,300 staff. With production facilities in eight countries, the Group mainly manufactures decorative paints, industrial wood finishes, paints for the metal industry, protective coatings and coil coatings.

Source: Kemira Paints


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