Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit Completed
Tikkurila Oyj is a Finnish manufacturer of paints and varnishes. The headquarters are located in Tikkurila, Vantaa, near Helsinki. Tikkurila was founded in 1862 as an oil mill. Tikkurila was acquired by the American company PPG Industries on June 10, 2021, in a deal worth approximately 1.5 billion euros.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit CompletedDue to the inability to sustainably operate at even the bare minimum, PPG Industries has made the decision to activate options to exit Russia, including a possible sale or controlled exit from the Russian market. Finnish paint maker Tikkurila's products manufactured at plants in Russia will be sold under a new brand, Tikkivala, from the first quarter of 2025.
Reduce Russian operations; stop sales to aerospace. Due to the inability to sustainably operate at even the bare minimum, PPG Industries has made the decision to activate options to exit Russia, including a possible sale or controlled exit from the Russian market. A new deal with assets of a foreign company may be in the works on the Russian paint and varnish materials (PVM) market. Top managers of Tikkurila's Russian office have created a structure with the participation of a representative of an investment bank and may be planning to buy out a business controlled by PPG Industries from the USA. The owner of St. Petersburg-based Tikkurila LLC since February 5, 2025 has become Moscow-based SmartBusinessGroup JSC, according to the Unified State Register of Legal Entities. This LLC is the legal entity of the Russian business of the Finnish paint and varnish manufacturer Tikkurila. Before that, the company belonged to Finnish Tikkurila Oyj.