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Tikkurila buys JUB's stake in trading company Tikkurila JUB Romania SRL
Article Type: Industry news From: Pigment & Resin Technology, Volume 39, Issue 1
Tikkurila has strengthened its position in the South Eastern European paint market by acquiring the 50 percent stake of the Slovenian JUB in the trading company Tikkurila JUB Romania SRL. The ownership will be transferred on September 1, 2009 and after this Tikkurila will own 100 percent of the company and will change its name to Tikkurila SRL. Tikkurila JUB Romania SRL was established in May 2008 for marketing, selling, and distributing Tikkurila's and JUB's decorative paints in Romania. Following the new ownership structure, the service concept of Tikkurila SRL will also include Tikkurila's industrial coatings. With an office and a warehouse in Bucharest, the company employs approximately ten people. Tikkurila has been active in Romaniasince 1998 through its Hungarian subsidiary Tikkurila Kft. The first customers were for industrial coatings, and later the distributor network has also been used to support the decorative paints activities.