VANTAA, Finland - Tikkurila Oyj's Swedish subsidiary, Dickursby Holding AB, is selling all the shares in OOO Tikkurila Powder Coatings, a Russian industrial coatings company, to Teknos Group Oy. With a production plant in St. Petersburg, Russia, OOO Tikkurila Powder Coatings sells and markets its products in Russia under the Ohtek brand. The transaction is subject to approval of regulatory authorities. After the transaction, Tikkurila will have no powder coatings-related operations.
Tikkurila is a leading decorative paints company in Russia. After the transaction, it will operate four paint factories. Products are sold under the brands of Tikkurila, Teks, Finncolor and Gamma in over 5,000 retail outlets. Tikkurila has approximately 1,500 employees in Russia.