The Tikkurila Group, part of the Finland-based Kemira Group, has finalised the negotiations for increasing its ownership in Tikkurila Baltcolor Sp. z o.o., a paint factory in Szczecin, Poland. After the Polish party, Baltchem S.A., sold its 40% stake, Tikkurila Paints Oy and Tikkurila Coatings Oy now own 100% of the company's shares on a fifty-fifty basis.
Tikkurila Baltcolor Sp. z o.o. started operating in the autumn of 1998. With a staff of 140, the company produces and markets both decorative paints and industrial coatings for the Polish market.
Besides Poland, The Tikkurila Group manufactures paints in Finland, UK, Holland, Italy, Estonia, Latvia and Russia. Net sales in 1999 amounted to EUR 357 million (FIM 2,125 million) and the personnel totalled 2,282.