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Kemira: Tikkurila has acquired rest of shares in its industrial coatings companies in Russia

22 May 2009 - Tikkurila, which is responsible for Kemira's paints and coatings business, 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. The parties have agreed on not disclosing any financial details.
 
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 a combined revenue totalling approximately EUR 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. Tikkurila Oy has also been exporting paints and coatings to Russia for decades under the brand names of Tikkurila and Tikkurila Coatings. A sales company for Tikkurila's industrial coatings started operating in St. Petersburg in 1998.