Tikkurila, which is responsible for Kemira’s paints and coatings business, has strengthened its position in the Southeasteuropean paint market. The company has agreed to establish a trading company by the name of Tikkurila JUB Romania with the paint company JUB of Slovenia based on equal partnership.
The new company will be responsible for the marketing, sales and distributing of Tikkurila’s and JUB’s decorative paints in Romania. With its office and warehouse in Bucharest, Tikkurila JUB Romania is due to start its operations July 1, 2008.
The Romanian paint market is expected to grow at double digit figures during the next few years. Especially demand in the medium and premium price segments will increase. The estimated size of the Romanian paints market is $170-180 million on an annual basis.