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.