Tikkurila to change its business model in Ukraine and Belarus
(Thomson Reuters ONE) -
Tikkurila Oyj
Stock Exchange Release
May 2, 2016 at 9:00 a.m. (CET+1)
Tikkurila has decided to change its business model in the Ukrainian and
Belarussian markets, and hence Tikkurila Oyj has entered into an agreement to
sell the entire share capital of its subsidiaries in Ukraine and Belarus to a
company established by Tikkurila's local management. The new company will
continue the distribution of Tikkurila's products in both countries.
The combined revenue of the two companies to be sold was approximately EUR 12
million in 2015, and the number of employees totaled 90. It is estimated that
the transaction, subject to fulfilment of agreed preconditions, will be closed
during the second quarter of 2016.
In conjunction with the closing of the transaction, Mr. Mauno Nurm, Managing
Director of both companies subject to the transaction, and Mr. Igor Zhenevsky,
Sales Director, Ukraine, will continue as entrepreneurs and resign from their
positions in Tikkurila.
"Based on the good experience from a similar type of change in our business
model in the Czech Republic, Hungary, Romania and Slovakia in 2012, we have
decided to develop and streamline our operations in Ukraine and Belarus with an
entrepreneurial distributor driven model," says Erkki Järvinen, President and
CEO of Tikkurila.
Tikkurila Oyj
Erkki Järvinen, President and CEO
For further information, please contact:
Erkki Järvinen, President and CEO
Mobile +358 400 455 913, erkki.jarvinen(at)tikkurila.com
Tikkurila is the leading paints and coatings professional in the Nordic region
and Russia. With our roots in Finland, we now operate in 16 countries. Our high-
quality products and extensive services ensure the best possible user experience
in the market. Sustainable beauty since 1862.
www.tikkurilagroup.com
This announcement is distributed by GlobeNewswire on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Tikkurila Oyj via GlobeNewswire
[HUG#2008805]
Unternehmensinformation / Kurzprofil:
Datum: 02.05.2016 - 08:00 Uhr
Sprache: Deutsch
News-ID 467805
Anzahl Zeichen: 2644
contact information:
Town:
Vantaa
Kategorie:
Business News
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"Tikkurila to change its business model in Ukraine and Belarus"
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