Tikkurila Oyj becomes Solidium Oy’s tenth holding as Tikkurila is listed on the NASDAQ OMX Helsinki. With its 14.68% share, Solidium becomes Tikkurila’s second largest shareholder. The company’s other main shareholders are Oras Invest Oy (14.70%), Kemira Oyj (14.00%), Varma Mutual Pension Insurance Company (8.61%) and Ilmarinen Mutual Pension Insurance Company (5.19%).
Kemira distributed 86 per cent of Tikkurila’s shares to Kemira shareholders, in order to facilitate the spin-off and stock exchange listing of the paints manufacturer.
– Tikkurila’s spin-off has created a new, solid listing on the Helsinki Stock Exchange, with strong domestic ownership. For investors, the spin-off increases Tikkurila’s operational transparency, says Solidium’s Managing Director, Kari Järvinen.
– Tikkurila has an interesting growth strategy, which we support. This means that the company can now develop its business independently, based entirely on its own requirements, Mr Järvinen adds.
Tikkurila provides consumers, professionals and industrial users with user-friendly and environmentally sustainable solutions for protection and decoration. Tikkurila is a strong regional player that aims to be the leading paint company in the Nordic area and Eastern Europe including Russia. In 2009 Tikkurila had a revenue of EUR 530 million. Its operating profit, excluding non-recurring items, amounted to EUR 50 million.