The transaction by which the Kemira Oyj, through its subsidiary Tikkurila Oy, acquires Alcro-Beckers AB, the biggest manufacturer of decorative paints in Sweden, has been concluded. This was the first step in Kemira's strategy to expand its paint business. The competition authorities approved the deal in December 2000, and the purchase price was specified at approx. EUR 180 million on the basis of the financial statements for 2000.
Alcro-Beckers AB's business operations were transferred to Tikkurila on 1 January 2001, and the company is now a fully-owned, independently operating subsidiary within the Tikkurila Group.
Tikkurila and Alcro-Beckers together will create a strong, Nordic-based paint group as a counterweight to the large multinational companies in the field. Tikkurila is today the biggest paint producer in the Nordic Countries, and aims at a position among the top five in Europe.
Decorative paints will be marketed in the future under three strong brand names: Alcro, Beckers and Tikkurila. The most important markets are in the Nordic Countries, Russia, the Baltic States and Poland. In industrial coatings, Tikkurila will continue to focus on protective coatings, OEM product finishes, industrial wood finishes and coil coatings.
After the closed deal, the Tikkurila Group has production in 10 countries. In 2001 the estimated net sales will be approx. 450 million EUR and the number of personnel approx. 2,600.