Kemira: Tikkurila companies to merge from 2008
Kemira coatings (Tikkurila), which is responsible for Kemira's paints and coatings business, has prepared a merger plan according to which Tikkurila Paints Oy and Tikkurila Coatings Oy will merge into their parent company Tikkurila Oy. The planned effective date for the merger is January 1, 2008. Under the merger agreement, all assets and liabilities as well as rights and obligations of the two subsidiaries in question will transfer to Tikkurila Oy as a universal succession.
The planned merger will clarify the legal structure of Tikkurila and simplify the management of the company. Managing working capital and raw materials will be simplified, as well as contacts with the outside world. Transfers of personnel internally between different departments and tasks will become more flexible.
It has been estimated that the legal and administrative costs of the merger will not be significant. The official negotiations related to the transfer of business required by the Finnish Co-operation Act with undertakings, will be arranged towards the end of the year.
Other news from the department business & finance
Get the chemical industry in your inbox
From now on, don't miss a thing: Our newsletter for the chemical industry, analytics, lab technology and process engineering brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
