Group news archive
Tikkurila Companies to merge from 2008
Kemira Coatings (Tikkurila), which is responsible for Kemira’s paints and coatings business, has prepared a merger plan according to which Tikkurila Paints Oy and Tikkurila Coatings Oy will merge into their parent company Tikkurila Oy.
The planned effective date for the merger is January 1, 2008.
Under the merger agreement, all assets and liabilities as well as rights and
obligations of the two subsidiaries in question will transfer to Tikkurila Oy as
a universal succession.
The planned merger will clarify the legal structure of Tikkurila and simplify
the management of the company. Managing working capital and raw materials will
be simplified, as well as contacts with the outside world. Transfers of
personnel internally between different departments and tasks will become more
flexible.
It has been estimated that the legal and administrative costs of the merger will not be significant. The official negotiations related to the transfer of business required by the Finnish Co-operation Act with undertakings, will be arranged towards the end of the year.
Further information:
Tikkurila Oy
Antti Kiuru, General Counsel
Phone +358 9 8577 2375; antti.kiuru@tikkurila.com
Jukka Riihimäki, Group Vice President, Finance & IT
Phone +358 9
8577 2280, jukka.riihimäki@tikkurila.com
www.tikkurila.com,
www.kemira.com
