Tikkurila will strengthen its position in Eastern Europe by acquiring the sales company Finncolor Slovakia s.r.o. operating in Martin, Slovakia. Tikkurila will purchase 100% of the company's shares from its management. The ownership will be transferred to Tikkurila on December 31, 2008, and the company name will be changed into Tikkurila Slovakia s.r.o. Until now, Finncolor Slovakia has acted as Tikkurila's importer for decorative paints and industrial coatings in Slovakia. Tikkurila has been exporting its products to the country since the mid 1990s. In 2007, Finncolor's operations in the Slovakian paint market had a revenue totaling approximately €3 million. This acquisition is aimed at strengthening Tikkurila's position in a strategic core area in Eastern Europe. Tikkurila Slovakia s.r.o. will have its own sales and marketing organization, warehouse in Martin and shops in Bratislava, Martin and Presov.
Tikkurila to acquire a sales company in Slovakia
By Tim Wright
Published December 15, 2008
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