Tikkurila Oy, which is responsible for Kemira's paints and coatings business, has acquired from the management a 100% share of the company Finncolor s.r.o. in Prague, the Czech Republic. The company name will be changed into Tikkurila s.r.o. The acquisition will not have any impact on the employment terms and conditions of the Finncolor personnel.
Until now, Finncolor has acted as one of Tikkurila's importers for decorative paints and industrial coatings in the Czech Republic. In the future, all imports will be channelled through Tikkurila s.r.o.
Tikkurila has made exports of paints and coatings to the Czech Republic since the early 1990s. In 2005, Tikkurila's operations in the Czech paint market had net sales amounting to €3 million, of which Finncolor accounted for approximately €1 million.
This acquisition is aimed at strengthening Tikkurila's position in a strategic core area in Eastern Europe. Tikkurila s.r.o. will have its own sales and marketing organization and warehouse in Prague. The range will include Tikkurila products made in Finland and Poland.