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
Tikkurila to Sell Stake in JV to Sto AG
July 1, 2008