Tikkurila, part of the Kemira Group, has signed an agreement for selling its coil coating business to Teknos Group Oy. Net sales of the operations totalled approx. EUR 15 million in 2004. The parties have agreed on not disclosing any financials details.
In the future, the coil coatings business will be transferred to a new company to be established under the name of Teknos Nova Coil Oy (TNC). Key persons related to sales and R&D in Tikkurila's coil coating business will transfer to the Teknos Group as old employees.
As regards coil coating production, no employees will transfer to the new company. The production will be continued at Tikkurila for a certain transition period for securing deliveries to customers. During this time, the tasks of the employees working in coil coating production will be reorganised and they will be offered new jobs at Tikkurila companies.
The main owner of the new company is the paint manufacturer Teknos Group Oy. Mr Ulf Koivula will be a minority shareholder, and he has also been appointed Managing Director of the new company. Mr Koivula was formerly President of Tikkurila Coatings Oy.
Coil coatings represent a special know-how within the paint industry, and they have been part of both Tikkurila's and Teknos' product range since the late 1970s. Combined operations will bring more resources into the business area and improve efficiency thus benefiting customers. The new company will be a significant and competitive player in Finland.
R&D and technical service for customers will play a central role in the new company's strategy. TNC aims to achieve the position as market leader in the Nordic countries and find growth potential in Russia and other CIS countries as well as in chosen segments in other market areas. The goal is to produce high-quality environmentally compliant products mainly for the needs of the construction industry. Coil- coated steel and aluminium sheets are used, for example, for roofs, walls and facades.
Established in 1862, Tikkurila is the leading paint manufacturer in the North-eastern Europe and part of the international Kemira Group. In addition to Finland, the company has production in Sweden, Poland, Germany, Estonia, Russia and the Ukraine, and sales companies in six more countries. The main business areas include decorative paints, industrial wood finishes and paints for the metal industry. The paints and coatings business had net sales of EUR 440 million and 2,300 staff in 2004. www.tikkurila.com
Teknos is one of the leading suppliers of industrial coatings in the Nordic countries and a major player in the retail and architectural paint markets. Group companies operate in Finland, Scandinavia, Germany, the United Kingdom, and Poland, and through a well-established network of agents and representatives in approx. twenty other European countries. Teknos employs a staff of around 900, and the Group turnover is close to EUR 200 million. Established n 1948, Teknos is one of the largest family businesses in Finland. www.teknos.com
For further information please contact:
Raimo Anjala, Managing Director of Teknos Group Oy, phone +358 9 5060 9206
Ulf Koivula, Managing Director of Teknos Nova Coil Oy, phone +358 50 533 5779
Ilpo Jousimaa, President, Tikkurila Coatings Oy, phone +358 400 499 855
Juha Mäkinen, Group Vice President, Operations& Logistics, Tikkurila Oy, phone +358 400 464 549