Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Tikkurila completes the divestment of its powder coatings business - Coatings World

What are you searching for?

Sign in
Breaking News

Tikkurila completes the divestment of its powder coatings business

Russia's largest paint maker will focus on its core decorative operations.

Author Image

By: KERRY PIANOFORTE

Editor, Coatings World, Coatings World

Tikkurila has completed the selling of its powder coatings business. All shares in Tikkurila Powder Coatings, a Russian industrial coatings company, were transferred to Teknos Group Oy on January 26, 2011. The sales and purchase agreement was signed in December 2010, and an approval for the transaction has been received from the competition authorities. Tikkurila divested its industrial powder coatings business, because it is not a part of Tikkurila’s core business. After the transaction, Tikkurila has no powder coatings related operations. The revenue of the sold company was €2.4 million in 2010, and it employs approximately 50 people. The transaction does not have a significant impact on the financial result or balance sheet of the Tikkurila Group, according to the company. Tikkurila is the leading decorative paints company in Russia, where it operates four paint factories after the transaction. The products are sold under the brands of Tikkurila, Teks, Finncolor and Gamma in over 5,000 retail outlets. Tikkurila has approximately 1,500 employees in Russia.

Add us as a preferred source on Google

Get the latest Coatings World news, insights and analysis in your Google Search and AI experiences.

Add Coatings World as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Coatings World Newsletters

Topics