Kemira's Tikkurila buys out JUB in Romania venture

27 August 2009 13:22  [Source: ICIS news]

LONDON (ICIS news)--Kemira’s paints and coatings business, Tikkurila, has agreed to buy out JUB’s 50% share in Tikkurila JUB Romania SRL, Kemira said on Thursday.

The full ownership will be transferred to Tikkurila on 1 September and the Romanian company's name will be changed to Tikkurila SRL, it added in a statement.

“Tikkurila Romania SRL was established in May 2008 for marketing, selling and distributing Tikkurila’s and JUB’s decorative paints in Romania. Following the new ownership structure, the service concept of Tikkurila SRL will also include Tikkurila’s industrial coatings,” the company said.

The financial details related to the deal were not disclosed.

The company has an office and warehouse in Bucharest and employs 10 people.

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By: Lucy Craymer
+44 20 8652 3214

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