Teknos has completed the acquisition of Dutch Drywood Coatings
Teknos Group Oy Press Release on October 3, 2016 at 9:50 a.m. (Finnish time)
Teknos has completed the acquisition of Dutch Drywood Coatings BV announced on September 16, 2016. The acquisition of Drywood is an important part of Teknos’ growth strategy. The acquisition creates access to a new market area for Teknos and it will further strengthen Teknos’ position in the European industrial wood coating market.
“I’m extremely happy for the fast completion of the acquisition. With the production unit in Enschede, in the Netherlands, Teknos is able to further broaden our production capabilities in the European market. I’d like to welcome our competent people from Drywood on-board”, says Paula Salastie, CEO of Teknos Group Oy.
Drywood develops, produces and sells water-based coatings for wooden substrates. Drywood has its production unit in Enschede, in the Netherlands, near the German border. Drywood maintains a leading market position in the Industrial Wood Coatings market in the Netherlands, and has established strong position in during recent years also in the Industrial Wood market in the UK and in the Architectural Coatings market in Norway. The net sales for 2015 were approximately EUR 9 million and it has 33 employees.
Further information:
Paula Salastie
CEO
Teknos Group Oy
Tel. +358 46 851 2625
paula.salastie@teknos.fi
Kim Smith
Senior Vice President, Industrial Wood Segment
Tel. +45 40891519
KIS@teknos.dk
Teknos is one of Europe’s leading suppliers of industrial coatings, with a strong position in retail and architectural coatings. Teknos has production in eight countries: Finland, Sweden, Denmark, Germany, Poland, Russia, China and in the Netherlands. In addition, Teknos has companies in 18 countries and exports to more than 20 countries via a well-established network of dealers. Teknos was established in 1948, and is one of Finland’s largest family-owned businesses. The net sales for 2015 was EUR 291 million and company employs 1,300 people. Further information visit www.teknos.com.
