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Finnish Tikkurila decided to leave the Russian market


The factory of the Finnish company Tikkurila . File photoHELSINKI, Jun 22 The Finnish manufacturer of paints and varnishes, which has three production sites in Russia, has decided to leave the Russian market, according to a press release from the organization. “We continued to sell (in Russia) the minimum number of goods, sufficient to obtain the required amount of local currency to pay the salaries of our workers.We also did not sell our products to, for example, Russian state-owned enterprises or the aviation industry.Because we are not able to sustainably operate even at this minimum level, we have decided to leave Russia.Options – either sell the business or make another controlled exit,” the company says. year its activities in Russia will bring profit, then they will transfer it to non-profit organizations engaged in humanitarian activities Tikkurila is the leading paint company in Northern and Eastern Europe with a turnover of 561.5 million euros in 2021. Tikkurila is the market leader in decorative paints. In Russia in 2021, the company's share in this segment was 18.5%. 77% of all paints produced are water-based paints.In Russia, it was proposed to unite IKEA suppliers under a single brand Tikkurila enterprises are located in 11 countries, products The company is sold in more than 40 countries around the world. Since June 2021, it has been part of the American holding PPG Industries, Inc. In Russia, the company is represented by three production sites, three training centers, 10 warehouses and logistics centers. As of the end of 2021, the company employs about 2.7 thousand people, about 1 thousand of them work in Russia.