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Teknos and Oliva Merger in Poland

September 2, 2010

Teknos and Oliva company plan to strengthen their presence in Poland by joining forces.

Teknos and Oliva have signed an agreement to merge together and become one of the leading players in the Polish metal paint market. According to the agreement the new company will operate under Teknos-Oliva name and brand. This deal is expected to close by the end of October.

Oliva is a well-known brand in Poland in the metal industry paints and yacht paints markets. The company has 90 employees with its main office and paint factory in Gdynia. Olivia recorded sales of approximately €8 million. The new company Teknos-Oliva will have a turnover above €20 million and it will be one of the leading players in Polish metal and industrial wood coatings markets. Production will continue in Gdynia.

Krzysztof Bruski, owner and CEO of Oliva Group, will continue to work for Teknos-Oliva as a member of the supervisory board and managing director of Teknos Poland. Piotr Niedziólka will be the managing director of the new Teknos-Oliva.