The Finland-based chemicals group Kemira has strengthened its coatings operations in Hungary. Tikkurila Coatings Oy, responsible for Kemira's industrial coatings activities, has acquired Akzo Nobel Coatings' general industrial liquid coatings activities in Hungary. The deal took effect on 19 December 2003; financial details were not disclosed.
"The acquisition of Akzo Nobel Coatings' general industrial business will significantly strengthen our market position in Hungary. It also fits perfectly into our portfolio from a strategic perspective," said Ulf Koivula, President for Tikkurila Coatings Oy. "As a trans-national Group, we aim for a local presence and local service in our core business areas, one of them being a coatings supplier to the metal industry," Koivula added.
General industrial liquid coatings are used to protect various manufactured products such as construction machinery and electrical supply equipment. Sales for Akzo Nobel Coatings' general industrial business in Hungary are EUR 1.2 million in 2003.
The manufacturing of general industrial coatings will be transferred from Akzo Nobel's location in Tiszaújváros, Hungary, to Tikkurila's production facilities in Vantaa, Finland, in six months.
Tikkurila Coatings Oy is part of the Tikkurila Group, a major paint manufacturer in Northern and Eastern Europe with net sales of EUR 450 million and 2,500 staff. With facilities in eight countries the Group mainly produces decorative paints, industrial wood finishes, paints for the metal industry, protective coatings and coil coatings.
For more information, please contact:
Ulf Koivula, President
Tikkurila Coatings Oy
GSM: +358 400 878 880
Imre Gaspar, Managing Director
Tikkurila Coatings Kft.
GSM: +36 209 433 486
www.tikkurila.com "Industrial coatings"