YEAR ESTABLISHED: 1892
REVENUE: $638 million
• Decorative coatings
Erkki Jarvinen, president and CEO; Jukka Havia, CFO; Petri Miettinen, VP, supply chain and HSEQ; Anna-Lena Hogfeldt, VP, group marketing; Kenneth Sundberg, VP, R&D; Janno Paju, VP, East.
Tikkurila Oyj is a Finnish manufacturer of paints and lacquers. Tikkurila is the market leader in decorative paints in Russia, Sweden, Finland and the Baltic countries. Russia, Sweden, Finland and Poland account for 80 percent of the Group’s revenue. Tikkurila has decided to change its business model in the Ukrainian and Belarussian markets, and has entered into an agreement to sell the entire share capital of its subsidiaries in Ukraine and Belarus to a company established by Tikkurila’s local management. The new company will continue the distribution of Tikkurila’s products in both countries. The combined revenue of the two companies to be sold was approximately €12 million in 2015, and the number of employees totaled 90. It is estimated that the transaction, subject to fulfilment of agreed preconditions, will be closed during the second quarter of 2016.