Kemira: Tikkurila to establish a sales company in China

24-May-2007

Kemira coatings (Tikkurila), the company responsible for Kemira's paints and coatings business, follows its strategy of increasing its market position in Asian paint markets by establishing a sales company in China. Tikkurila (Beijing) Paints Co., Ltd started operating on May 22, 2007 in Beijing. At the same time, Tikkurila is to acquire the sales company CEIEC-Feelings operating in China from its owners CEIEC, CEIEC-OTC and a number of private investors. CEIEC-Feelings' business operations and the staff of 50 persons will be transferred to the new company. The parties have agreed on not disclosing any financials details. The acquisition aims at consolidating a basis for a powerful development of Kemira's market position in the rapidly growing decorative paints market in China.

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