VANTAA,
Finland - Tikkurila Oy, the company that is responsible for Kemira’s paint and
coatings business, has signed an agreement to sell its 50-percent stake in OOO
Sto-Tikkurila to the other party in the joint venture, Sto AG of
Germany.
The joint venture OOO Sto-Tikkurila was established in June 2006 in Moscow,
Russia, to produce coatings systems for façades. The Germany-based Sto AG now
wishes to continue the business on its own, while Tikkurila will continue
operating in the Russian façade-coatings market under its own
brands.