Valspar acquires Finnish coil coatings firm

04 September 2007 19:25  [Source: ICIS news]

TORONTO (ICIS news)--Valspar has acquired Finnish coil coatings maker Teknos Nova Coil for an undisclosed sum, the US paint and coatings firm said on Tuesday.

 

The acquisition would help Valspar expand its coil coatings solutions business in Northern and Eastern Europe, the Minneapolis, Minnesota-based company said.

 

Coil coatings are used in the construction industry.

 

Teknos had sales of €31m ($42m) last year.

 

Valspar said in June it was planning acquisitions outside its US home market but at the time did not disclose details.

 

Valspar’s shares were up 0.70%, at $27.16, in Tuesday afternoon trading in New York.

 

($1 = €0.73)

By: Stefan Baumgarten
+1 713 525 2653

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