Tikkurila plans to build new factory in Russia
(Thomson Reuters ONE) -
Tikkurila Oyj
Press Release
June 19, 2017 at 1.30 PM (CET+1)
Tikkurila plans to build new factory in Russia
Tikkurila has signed a Letter of Intent to buy a seven hectare industrial site
near St. Petersburg, Russia. The aim is to start the construction work of a
greenfield factory in 2018.
In order to support growth, Tkkurila is planning to invest in a new factory in
Russia. The factory will be located in Greenstate Industrial Park, two
kilometers south of St. Petersburg. The annual capacity of the factory will be
30 million liters with an expansion possibility in the future. The new site will
also include a Research, Development and Innovation (RDI) center as well as
extensive warehouse premises for raw materials and finished goods with railway
connection, which will improve and enhance the efficiency of Tikkurila's
distribution facilities. The total investment amount will be around EUR 30-35
million depending on the final set-up. Design of the facility will start
immediately and construction is scheduled to begin late next year. The
production is set to commence in 2020.
The new factory will produce decorative and industrial products and it will
replace the two existing solvent-borne production units in St. Petersburg. After
the investment, Tikkurila will operate one water-borne and one solvent-borne
factory in the St. Petersburg area. The investment will increase the Russian net
capacity and there is also an option for further expansion.
"We are committed to developing our business operations in Russia, which is the
second biggest market for Tikkurila after Sweden. We are the clear market leader
in decorative paints in Russia and our aim is to strengthen our position further
in all our customer segments. The new factory, warehouse and RDI premises
improve our competitiveness, production capabilities and customer service," says
Erkki Järvinen, President and CEO of Tikkurila.
"Several location options for the new factory were studied. Greenstate
Industrial Park in the Leningrad oblast was chosen due to its optimal location.
We also want to hold on to the skilled people we currently employ in St.
Petersburg," says Petri Miettinen, Senior Vice President of Operations.
"Deployment of the latest production technology will reduce lead-times and
improve our environmental footprint. We want to promote high-quality products
that are durable and safe for both users and the environment."
Tikkurila has been in the Russian market for decades. Tikkurila started to
export paints and coatings to the former Soviet Union since the 1970s. The first
Western-style paint factory in Russia was opened by Tikkurila in St. Petersburg
in 1995. Currently, Tikkurila has four production units in Russia; three in St.
Petersburg and one in Staryi Oskol. Tikkurila's logistics and retail network
covers the whole country. Tikkurila operates two primary brands in Russia,
Tikkurila and Teks.
For further information, please contact:
Petri Miettinen, Senior Vice President, Operations, mobile +358 50 311 1281,
petri.miettinen(at)tikkurila.com
Ilari Hyyrynen, Country Director, Russia, mobile +358 400 447 472,
ilari.hyyrynen(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 14 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 Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Tikkurila Oyj via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 19.06.2017 - 12:30 Uhr
Sprache: Deutsch
News-ID 548597
Anzahl Zeichen: 4281
contact information:
Town:
Vantaa
Kategorie:
Business News
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