Tikkurila completed the acquisition of the operations of Zorka Color
(Thomson Reuters ONE) -
Tikkurila Oyj
Press Release
July 1, 2011 at 9.00 am (CET+1)
Tikkurila has completed the acquisition of the business operations of Serbian
paint company Zorka Color. Approvals from the competition authorities have been
received and also other terms and conditions of the transaction have been
fulfilled. The asset purchase agreement was signed in April 2011, and the
business was transferred to Tikkurila on July 1, 2011.
The purchase price paid at the time of the closing of the deal is approximately
EUR 12 million. In addition, during the next four years Tikkurila will pay a
possible additional purchase price, which will be based on the future results of
the business operations acquired.
The acquisition will strengthen Tikkurila's position, in accordance with the
company's strategy, in Central Eastern Europe and in the Balkans in particular.
In addition to Serbia, Zorka Color also operates in Macedonia, Bosnia-
Herzegovina, Montenegro, Croatia, and Kosovo. According to estimates by
Tikkurila's management, Zorka Color is one of the three largest players in
Serbia and the largest player in Macedonia in the decorative paints business.
Trademarks to be transferred to Tikkurila in the acquisition include, for
example, Linea, Decolux, Zoralux, and Mixline.
According to Zorka Color, the company's revenue in 2010 was approximately EUR
16.2 million, operating profit (EBIT) EUR 1.0 million, and the average number of
employees some 150. Zorka Color's employees have become Tikkurila's personnel.
For further information, please contact:
Tikkurila Oyj
Erkki Järvinen, President and CEO
Telephone +358 400 455 913,erkki.jarvinen(at)tikkurila.com
Tikkurila provides consumers, professionals and the industry with user-friendly
and environmentally sustainable solutions for protection and decoration.
Tikkurila is a strong regional player that aims to be the leading paint company
in the Nordic area and Eastern Europe including Russia. - Tikkurila inspires you
to color your life.
www.tikkurila.com
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originality of the information contained therein.
Source: Tikkurila Oyj via Thomson Reuters ONE
[HUG#1527626]
Unternehmensinformation / Kurzprofil:
Datum: 01.07.2011 - 08:02 Uhr
Sprache: Deutsch
News-ID 56035
Anzahl Zeichen: 2844
contact information:
Town:
Vantaa
Kategorie:
Business News
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"Tikkurila completed the acquisition of the operations of Zorka Color"
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