Tikkurila expands in russia
Tikkurila has acquired the remaining 30% of the shares in two St Petersburg-based paint companies from their founders and previous management. OOO Gamma Industrial Coatings is a producer of metal industry coatings and OOO Tikkurila Powder Coatings is a producer of powder coatings. After the transaction, Tikkurila owns 100% of both companies. In spring 2007 Tikkurila acquired a 70% stake in the industrial coatings companies OOO Gamma Industrial Coatings and OOO Tikkurila Powder Coatings. They produce and market industrial coatings under the brand names Gamma and Ohtek with acombined revenue totalling approximately €10.7 million and a staff of 155. Tikkurila currently has five paint factories in Russia. Products from these factories are sold under the brands of Teks, Finncolor, Gamma and Ohtek.