HELSINKI, Finland - Teknos and Oliva have signed an agreement to merge the two companies, creating a new company in the Polish metal paint market. According to the agreement, the new company will operate under the Teknos-Oliva name and brand. Pending approvals, the deal is expected to be completed by the end of October.
Oliva is a well-known brand in Poland, specializing in metal-industry paints and yacht paints. The company has 90 employees and an office and paint factory in Gdynia, Poland. It has net sales of approximately EUR eight million.
The new company, Teknos-Oliva, will have a turnover above EUR 20 million and will be a leading player in the Polish metal and industrial wood coatings market. Production will continue in Gdynia.
Teknos has been present in Poland for over 15 years. Teknos’ Polish sales company is located in Warsaw, Poland, and has a branch office in Lódz, Poland.
Krzysztof Bruski, the owner and CEO of Oliva Group, will continue to work for Teknos-Oliva as a member of the supervisory board. Managing Director of Teknos Poland Piotr Niedziółka will be the Managing Director of the new Teknos-Oliva.
Teknos and Oliva Merge in Poland
August 31, 2010