MOSCOW TIME: 25.04.2024 22:43:58
Teknos, Finnish producer of paints and lacquers, acquired St. Petersburg trading house Massco, which produces and sells paints.
Finnish Teknos expands its presence in the Russian market
Teknos, Finnish producer of paints and lacquers, acquired St. Petersburg trading house Massco, which produces and sells paints.
In 2015, net Masco sales exceeded 500 million rubles. As a result of the deal, Massco production of paints and lacquers will move to the new Teknos plant in St. Petersburg. The plant with 10 million liters of wet paints and 2 thousand tons of powder paints capacity opened in industrial park Maryino in June this year. The invested amount was €17 million. By 2018, the company is determined to entirely substitute imported Teknos paints with domestically produced paints and to import only paints for construction and home use.
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