19.10.2005


Teknos acquires Tikkurila's coil coating business

Teknos has signed a contract to acquire the coil coating business from Tikkurila. Net sales of the operations totalled approx. EUR 15 million in 2004. The coil coating business will be transferred to a new company Teknos Nova Coil Oy (TNC).

The main owner of the new company is the paint manufacturer Teknos Group Oy and as a minority shareholder is Mr Ulf Koivula who has also been appointed as Managing Director of the new company. Mr Koivula has former been President of Tikkurila Coatings Oy.


Key persons from Tikkurila's coil coating business will move to Teknos Group as old employees. Concerning production there has been agreed a certain transfer period.


Coil coatings represent a special know-how within paint industry. Coil coatings have belonged to both Tikkurila's and Teknos ' product range since the late 1970's. The combining of operations strengthens coil coating know-how and brings effectivity that benefits customers. TNC will be a competitive actor in Finland.


R&D and technical service to customers will have a central position in the new company's strategy. The company aims to achieve the market leader position in Nordic countries and to find growth potential from Russia, CIS countries and on chosen segments in other market areas. The goal is to produce high quality and environmentally friendly products mainly for the needs of the construction industry. Coil coated steel and aluminium sheets are used, for example, in roofs, walls and facades.


For further information please contact:
Raimo Anjala, Managing Director of Teknos Group Oy, phone +358 9 5060 9206
or
Ulf Koivula, Managing Director of the new company TNC Oy,
phone +358 50 533 5779

Teknos is one of Scandinavia's leading suppliers of industrial coatings and a major participant in the retail and architectural paint markets. Group companies operate in Scandinavia, Germany, the United Kingdom, and Poland, and through a well-established network of agents and representatives in about twenty other European countries.

Teknos employs around 900 staff. Group turnover is close to EUR 200 million. Teknos is established in 1948 and it is one of the largest family businesses in Finland.