Teknos to acquire powder coatings business from Śnieżka
Teknos Group Oy Press Release on 17 January 2017 at 2.15 p.m.
Teknos has entered into an agreement to acquire powder coatings business from Śnieżka in Poland. Through the acquisition Teknos gets ownership to the powder coatings production lines and strengthens its’ sales and R&D organisation. The acquisition agreement was signed on 16 January 2017.
FFiL Śnieżka SA is a main company within the Śnieżka Capital Group and a leading manufacturer of paints and varnishes in Poland and Central and Easter Europe. Currently, Śnieżka is the only paint manufacturer listed on the Warsaw Stock Exchange, it is also the only one controlled by the Polish capital. The production facilities of Śnieżka located in Poland, Ukraine and Belarus manufacture annually about 140m litres of various chemical products addressed to domestic and foreign markets.
Teknos’ vision is to be the leading supplier of technically advanced coating solutions - close to customers. Through the acquisition of powder coatings business from Śnieżka, Teknos will strengthen its’ R&D and production capabilities closer to the growing Polish market and shorten the supply chain for special products.
“The acquisition of powder coatings from Śnieżka supports Teknos’ growth strategy. We have been developing our powder coatings business for many years with good success. The acquisition is a natural step for Teknos. This improves our service level in the powder coatings and opens-up new business opportunities in the Polish market, says Lassi Tirkkonen, Group SVP, Metal Paints & Coatings, Teknos Group.
Group Senior Vice President, Metal Paints & Coatings
Tel. +358 40 513 2494
Tel. +48 691 112 282
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 through 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 the company employs 1,300 people. For additional information, please visit www.teknos.com.