Teknos to acquire powder coatings business from Śnieżka
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
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