08.02.21
Vantaa, Finland
www.tikkurila.com
PUBLIC COMPANY; YEAR ESTABLISHED: 1892
REVENUE: $692 million
MARKETS SERVED: Decorative coatings
KEY EXECUTIVES:
Markus Melkko, interim CEO; Melisa Bärholm, senior VP, Human Resources; Jukka Havia, CFO; Fredrik Linde, senior VP, Operations; Petri Miettinen, senior VP, Sourcing; Meri Vainikka, senior VP, Offering.
As this issue went to press, PPG completed the acquisition of Tikkurila. Tikkurila was established in 1862, and is headquartered in Vantaa, Finland. The company is a leading producer and distributor of decorative paint and coatings with operations in 11 countries and more than 80% of its revenue coming from Finland, Sweden, Russia, Poland, and the Baltic states. Its brands include Tikkurila, ALCRO, Teks, Vivacolor, and Beckers. Tikkurila uses the Beckers brand only in its decorative paints in Scandinavian countries as well as in some parts of Eastern Europe under a license from Aktiebolaget Wilh. Becker, obtained in conjunction with its acquisition of Alcro-Beckers Ab in 2001. Tikkurila’s industrial paint business produces paints and coatings for the wood and metal industries, among others. The company employs approximately 2,400 people globally and reported sales of approximately €582 million in 2020.
“We are proud of the value we have created through this combination for employees, customers, investors and all other stakeholders,” said Jari Paasikivi, chairman of the board, Tikkurila Oyj. “With PPG, Tikkurila employees will have access to additional growth opportunities, while customers will benefit from PPG’s focus on partnership, innovation and growth.”
Markus Melkko has been named interim CEO of Tikkurila Oyj, effective immediately, in addition to his current responsibilities as its CFO.
Following the closing of PPG’s acquisition of Tikkurila on June 10, 2021, Elisa Markula notified the Tikkurila board of directors of her decision to resign as president and CEO of Tikkurila to take a CEO role at another company in another industry sector.
“I want to thank Elisa for her leadership and many contributions to Tikkurila,” said Tim Knavish, PPG executive vice president. “She has built a strong team and together they executed a strategy to profitably grow the Tikkurila business. These efforts helped to enhance the value and reputation of Tikkurila, and we are pleased it is now part of the PPG family. We wish Elisa all the best in her future endeavours. Markus is a proven leader and he has been instrumental in the transformation of the Tikkurila business, which positions us well to achieve continued growth and success. He has played a key role on the leadership team in executing the business strategy and delivering increased value to Tikkurila stakeholders.”
Melkko joined Tikkurila in 2019 and has served as CFO and a member of the management team.
www.tikkurila.com
PUBLIC COMPANY; YEAR ESTABLISHED: 1892
REVENUE: $692 million
MARKETS SERVED: Decorative coatings
KEY EXECUTIVES:
Markus Melkko, interim CEO; Melisa Bärholm, senior VP, Human Resources; Jukka Havia, CFO; Fredrik Linde, senior VP, Operations; Petri Miettinen, senior VP, Sourcing; Meri Vainikka, senior VP, Offering.
As this issue went to press, PPG completed the acquisition of Tikkurila. Tikkurila was established in 1862, and is headquartered in Vantaa, Finland. The company is a leading producer and distributor of decorative paint and coatings with operations in 11 countries and more than 80% of its revenue coming from Finland, Sweden, Russia, Poland, and the Baltic states. Its brands include Tikkurila, ALCRO, Teks, Vivacolor, and Beckers. Tikkurila uses the Beckers brand only in its decorative paints in Scandinavian countries as well as in some parts of Eastern Europe under a license from Aktiebolaget Wilh. Becker, obtained in conjunction with its acquisition of Alcro-Beckers Ab in 2001. Tikkurila’s industrial paint business produces paints and coatings for the wood and metal industries, among others. The company employs approximately 2,400 people globally and reported sales of approximately €582 million in 2020.
“We are proud of the value we have created through this combination for employees, customers, investors and all other stakeholders,” said Jari Paasikivi, chairman of the board, Tikkurila Oyj. “With PPG, Tikkurila employees will have access to additional growth opportunities, while customers will benefit from PPG’s focus on partnership, innovation and growth.”
Markus Melkko has been named interim CEO of Tikkurila Oyj, effective immediately, in addition to his current responsibilities as its CFO.
Following the closing of PPG’s acquisition of Tikkurila on June 10, 2021, Elisa Markula notified the Tikkurila board of directors of her decision to resign as president and CEO of Tikkurila to take a CEO role at another company in another industry sector.
“I want to thank Elisa for her leadership and many contributions to Tikkurila,” said Tim Knavish, PPG executive vice president. “She has built a strong team and together they executed a strategy to profitably grow the Tikkurila business. These efforts helped to enhance the value and reputation of Tikkurila, and we are pleased it is now part of the PPG family. We wish Elisa all the best in her future endeavours. Markus is a proven leader and he has been instrumental in the transformation of the Tikkurila business, which positions us well to achieve continued growth and success. He has played a key role on the leadership team in executing the business strategy and delivering increased value to Tikkurila stakeholders.”
Melkko joined Tikkurila in 2019 and has served as CFO and a member of the management team.