KAUKO-TELKO LTD PRESS RELEASE 19.06.2007 AT 14.00 1(1)
Telko Group (Kauko-Telko) is expanding its strategic partnership with BP Industrial Lubricants & Services (BP ILS) by acquiring total ownership of BP's Swedish retail company, Molub-Alloy AB. The parties have also agreed to engage in cooperation in northwestern Russia.
Molub-Alloy AB started its lubricant business in 1962. They currently employ 10 people, who will transfer to Telko Group under their previous employment terms.
The completed business acquisition and the cooperation agreement are part of Telko Group's new growth strategy focusing on international technical trade. Telko Group (Kauko-Telko, former Kaukomarkkinat) has engaged in the trade of industrial lubricants in Finland since 1959.
Kauko-Telko specialises in international technical trading in the Nordic and Baltic countries, Poland, China and Russia. In 2006, Kauko-Telko's net sales were €248 million. The company employs about 500 people. Kauko-Telko is part of the Kesko Group.
Telko Group is Kauko-Telko's marketing name.
Further information is available from:
Stefan Tallqvist, Senior Vice President, Telko Group, tel. +358 9 521 7490
Pertti Viita, Business Unit Manager, Telko Group, tel. +358 9 521 4400
Stefan Tallqvist, Senior Vice President, Telko Group, tel. +358 9 521 7490
Pertti Viita, Business Unit Manager, Telko Group, tel. +358 9 521 4400
Kesko (www.kesko.fi) is a Finnish retail specialist whose stores offer quality to the daily lives of consumers through valued products and services at competitive prices. Kesko has about 2,000 stores engaged in chain operations in the Nordic and Baltic countries, and Russia.