Tim Wright12.13.06
Finnish chemicals group Kemira's paint and coatings unit, Tikkurila, has agreed to purchase 70% of two paint factories in St. Petersburg, Russia called Gamma and Ohtinski zavod poroshkovyh krasok.
Both factories combined employ 160 people and have annual sales of approximately €11 million.
"The acquisition will considerably increase Tikkurila's sales and market position in the Russian market of metal industry coatings," said a company spokesperson.
It added that negotiations were due to be finalized before the end of January next year.
Both factories combined employ 160 people and have annual sales of approximately €11 million.
"The acquisition will considerably increase Tikkurila's sales and market position in the Russian market of metal industry coatings," said a company spokesperson.
It added that negotiations were due to be finalized before the end of January next year.