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Tikkurila Acquires Remaining Stake in Russian Paint Companies

7:29 AM MDT | May 18, 2009 | Deepti Ramesh

Tikkurila (Helsinki), the paints and coatings subsidiary of Kemira, says it has acquired the remaining 30% of equity shares in Gamma Industrial Coatings (St. Petersburg) and Tikkurila Powder Coatings (St. Petersburg). Financial details were not disclosed. Following the acquisition, Tikkurila owns 100% of both companies. Tikkurila first acquired 70% stake in Gamma Industrial Coatings and Tikkurila Powder Coatings in 2007. They produce and market industrial coatings with combined sales of about €10.7 million and a staff of...

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