Zorka Color acquired Tikkurila's local sites in Serbia and the Republic of Macedonia for architectural coatings.
Tikkurila will invest 2.4 billion rubles (approx. $42 million) to build a decorative and industrial paint production facility and innovation center in the Greenstate industrial park in Lomonosovsky District, Leningrad Oblast, Russia. Construction is planned to start in 2018, with production launch in 2020, creating 300 jobs.
Tikkurila has signed a Letter of Intent to buy a seven-hectare industrial site in Greenstate Industrial Park near St. Petersburg to build a greenfield factory with an annual capacity of 30 million liters. The total investment is EUR 30-35 million, with construction scheduled to begin in 2018 and production in 2020.
| Site | Largest | Latest |
|---|---|---|
| Lomonosovsky District, Russia | $42.0M | 2018-02-16 |
| Greenstate Industrial Park, Russia | $36.5M | 2017-06-20 |