The Finland-based chemicals group Kemira is to strengthen its Paints&Coatings operations in Scandinavia and the Baltic Sea area. Tikkurila Coatings Oy, responsible for Kemira's industrial coatings activities, intends to acquire Akzo Nobel Coatings' Nordic general industrial liquid coatings activities. Financial details of the deal were not disclosed. The transaction is expected to be concluded by the end of this year.
"The acquisition of Akzo Nobel's Nordic general industrial business activity will significantly strengthen our market position in Scandinavia and the Baltic Sea area. It also fits perfectly into our portfolio from a strategic perspective," said Tapio Käär, COO and President for Tikkurila Coatings Oy. "As a transnational Group, we aim for a local presence and local service in our core business areas, one of them being a supplier of coatings to the metal industry," Käär added.
General industrial liquid coatings are used to protect various manufactured products such as construction machinery and electrical supply equipment. Sales for Akzo Nobel's Nordic business in Finland, Sweden, Norway, Denmark and Poland were EUR 17 million in 2001.
The manufacturing of the general industrial coatings will be transferred from Akzo Nobel's sites in Malmö (Sweden) and Wloclawek (Poland) to Tikkurila's production facilities in Vantaa (southern Finland) and Debica (southern Poland) within 18 months.
Tikkurila Coatings Oy is part of the Tikkurila Group, a major paint manufacturer in Northern and Eastern Europe with production facilities in ten countries. Its main products are decorative paints, industrial wood finishes, paints for the metal industry, protective coatings and coil coatings. In 2001 the Group had net sales of EUR 445 million and a staff of 2,500.