Tikkurila to Sell Stake in JV to Sto AG
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.
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.
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