Kemira Coatings (Tikkurila), the company responsible for Kemira's paint and coatings business, is increasing its market position in Asian paint markets by establishing a sales company in China. Tikkurila (Beijing) Paints Co., Ltd began operating on May 22, 2007 in Beijing. At the same time, Tikkurila is to acquire the sales company CEIEC-Feelings operating in China from its owners CEIEC, CEIEC-OTC and a number of private investors. The business operations of CEIEC-Feelings and 50 employees will be transferred to the new company.
CEIEC-Feelings have been operating since 2002 as the importer of Tikkurila's decorative paints in China. Net sales for 2007 are estimated at approximately €2 million.
The acquisition aims at consolidating a basis for a powerful development of Kemira's market position in the rapidly growing decorative paints market in China.
Tikkurila to establish a sales company in China
By Tim Wright
Published May 24, 2007
Related Breaking News
- PPG Highlights Electrocoat for Fasteners in Shanghai
- District Court Affirms Confirmation of Pittsburgh Corning Reorganization Plan
- WACKER POLYMERS to Raise Prices For Dispersions and Dispersible Powders in Americas
- Huntsman Completes Acquisition Of Rockwood's Performance Additives And Titanium Dioxide Businesses
Related Paint & Coatings Manufacturer News