Tikkurila has signed an agreement to sell its coil coating business—which had sales of approximately €15 million in 2004—to Teknos Group Oy. Financial details were not released.
The business will be transferred to a new company, Teknos Nova Coil Oy (TNC).
Ulf Koivula, formerly president of Tikkurila Coatings Oy, has been appointed managing director of the new company. He is also a minority shareholder in TNC.
In the deal, key coil coating sales and R&D staff will transfer to the Teknos Group. Production employees will remain with Tikkurila.
Tikkurila sells coil coating business to Teknos
By Christine Esposito
Published October 19, 2005
Related Breaking News
- NSF Sustainability Standards Referenced in the 2015 International Green Construction Code
- PPG Completes $5 Million Expansion of Wuppertal, Germany, Coatings Plant
- BASF to Lift Force Majeure for EO-Based Products in Portfolio of Care Chemicals
- McGarry of PPG to Deliver Keynote Address at Pittsburgh Chemical Day
Related Paint & Coatings Manufacturer News