Tikkurila to sell two Swedish retail stores, change in the Group Management Board
(Thomson Reuters ONE) -
Tikkurila Oyj
Stock Exchange Release
October 28, 2011 at 11.00 a.m. (CET+1)
Tikkurila has agreed to sell all the shares in Färgglädje Måleributiken i Alvik
AB as well as the assets of Alcro-Beckers AB's retail store in Uppsala, Sweden
to Niklas Frisk, currently the head of Tikkurila's SBU Scandinavia, and to other
private persons. The rationale of the transactions is to develop the retail
distribution network in Sweden in accordance with the revised strategy announced
on October 27, 2011.
In 2010, the revenue of the businesses to be divested totaled approximately EUR
6.5 million and the number of employees was 40. The estimated date of closing is
on December 31, 2011, and the total purchasing price is SEK 25.0 million (about
EUR 2.7 million). The transactions will not have a significant impact on
Tikkurila's fourth quarter results.
In conjunction with this, it has been agreed that Niklas Frisk will resign from
Tikkurila Group effective as of December 31, 2011. In addition to heading
Tikkurila's SBU Scandinavia, he is also a member of Tikkurila's Management
Board, and serves as the Managing Director of Alcro-Beckers AB, Tikkurila's
Swedish subsidiary.
"We have started the recruitment process to find a replacement for Niklas, who
has over the last sixteen years strongly contributed to the success of
Tikkurila's Scandinavian operations. I am glad that we continue cooperation with
Niklas in selling our products and further developing our distribution set-up in
Sweden, even though in the future from an entrepreneur's perspective," states
Erkki Järvinen, President and CEO of Tikkurila Oyj.
Tikkurila Oyj
Erkki Järvinen, President and CEO
For further information, please contact:
Tikkurila Oyj
Erkki Järvinen, President and CEO
Phone +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.tikkurilagroup.com
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originality of the information contained therein.
Source: Tikkurila Oyj via Thomson Reuters ONE
[HUG#1559058]
Unternehmensinformation / Kurzprofil:
Datum: 28.10.2011 - 10:01 Uhr
Sprache: Deutsch
News-ID 81380
Anzahl Zeichen: 3034
contact information:
Town:
Vantaa
Kategorie:
Business News
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"Tikkurila to sell two Swedish retail stores, change in the Group Management Board"
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