Releases 2008
Tikkurila merger to take effect
The subsidiaries Tikkurila Paints Oy and Tikkurila Coatings Oy have merged
into their parent company Tikkurila Oy which is responsible for Kemira’s paints
and coatings business (Kemira Coatings) on 1 January, 2008. Under the merger,
all assets and liabilities as well as rights and obligations of the two
subsidiaries were transferred to Tikkurila Oy as a universal
succession.
The merger will clarify Tikkurila's legal structure and operations in
Finland. Managing working capital and raw materials will be simplified, as well
as contacts with the outside world.
The official negotiations related to the merger required by the Finnish Act
on Co-operation within Undertakings were arranged in December 2007. The Employer
reported in the negotiations that the merger will not bring any significant
legal, financial or social consequences to Employees. The organisation structure
will be reviewed in the spring of 2008, when it will be easier to estimate the
impact of the merger on the content of the various tasks.
Mr. Visa Pekkarinen will continue as President for the Tikkurila Group, responsible for Kemira Coatings business area, based in Vantaa, Finland. He will also continue as President for Tikkurila Deco, the unit responsible for the decorative paints business. Mr. Jarmo Mäenpää has been appointed Managing Director of Tikkurila Oy as from 1 January, 2008, and he will continue as President for Deco Finland. Mr. Ilpo Jousimaa will continue as President for the business unit Industrial Coatings. Both Mr. Mäenpää and Mr. Jousimaa will continue reporting to Mr. Pekkarinen.
Further information:
Tikkurila Oy
Antti Kiuru, General Counsel
Phone +358 9 8577 2375, antti.kiuru(at)tikkurila.com
Arja
Schadewitz, Communications Manager
Phone +358 9 8577 2475, arja.schadewitz(at)tikkurila.com
www.tikkurila.com, www.kemira.com
