Finnish coatings maker Tikkurila Oy (Vantaa) has announced acquiring the remaining 50% stake of the trading company, Tikkurila JUB Romania SRL. The parties have agreed not to disclose any financial details.
Tikkurila’s complete ownership of the firm took effect September 1. Tikkurila will change the name of the Southeastern European company to Tikkurila SRL.
Tikkurila JUB Romania SRL was established in May 2008 for marketing, selling, and distributing Tikkurila's and JUB's decorative paints in Romania. Following the new ownership structure, Tikkurila SRL will also include Tikkurila's industrial coatings. With an office and a warehouse in Bucharest, the company employs approximately 10 people.
Tikkurila has been active in Romania since 1998 through its Hungarian subsidiary Tikkurila Kft. The first products were industrial coatings, but the distributor network has since been used to support decorative paints activities, as well.
Tikkurila is also responsible for the paints and coatings business of Kemira (Helsinki, Finland).
For further information, visit www.tikkurila.com.