Releases 2007
Tikkurila to establish a sales company in China
Kemira Coatings (Tikkurila), the company responsible for Kemira's paints and
coatings business, follows its strategy of increasing its market position in
Asian paint markets by establishing a sales company in China. Tikkurila
(Beijing) Paints Co., Ltd will start operating on 22 May, 2007 in Beijing. At
the same time, Tikkurila is to acquire the sales company CEIEC-Feelings
operating in China from its owners CEIEC, CEIEC-OTC and a number of private
investors. The business operations of CEIEC-Feelings and 50 employees will be
transferred to the new company. The parties have agreed on not disclosing any
financials details.
CEIEC-Feelings have been operating since 2002 as the importer of Tikkurila's decorative paints in China. Net sales for 2007 are estimated at approx. EUR 2 million.
The acquisition aims at consolidating a basis for a powerful development of Kemira's market position in the rapidly growing decorative paints market in China. Kemira Coatings is the leading supplier of paints in Northern and Eastern Europe, providing consumers and professionals with branded products in some 40 countries. The product range consists of decorative paints and coatings for the woodworking and metal industries. In 2006, Kemira Coatings business area had net sales of EUR 563 million and a payroll of 3,500 employees.
For more information, please contact:
Tikkurila Deco
International
Markku Immonen, Sales Director
Mobile phone: +358 40 501
0426
Tikkurila (Beijing) Paints
Yan Ming, Managing Director
Mobile
phone: +86 139 0104 2176
Kemira Coatings (Tikkurila)
Arja Schadewitz,
Communications Manager
Mobile phone: +358 40 518 0059
www.kemira.com, www.tikkurila.com
Kemira is a chemicals group made up of four business areas: Kemira Pulp&Paper, Kemira Water, Kemira Specialty and Kemira Coatings. It is a global group of leading chemical businesses with a unique competitive position and a high degree of mutual synergy.
In 2006, Kemira recorded revenue of around EUR 2.5 billion and had a payroll of 9,000 employees. Kemira operates in 40 countries.
