Industry News

Tikkurila to start production of industrial coatings in Russia

Published on 2006-12-14. Author : SpecialChem

Tikkurila, which is responsible for Kemira's paints and coatings business, follows its strategy of strengthening its market position in Eastern European paint markets. Tikkurila Oy has agreed to acquire a 70% share of two St Petersburg-based paint companies by the name of "OOO Gamma" and "OOO Ohtinski zavod poroshkovyh krasok ".

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 acquisition will considerably increase Tikkurila's sales and market position in the Russian market of metal industry coatings. Negotiations are due to be finalised before the end of January 2007.

The acquired companies will continue their operations as new companies under the names of "Gamma Industrial Coatings" and "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.

Source: Tikkurila

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