Tikkurila shutts down production facilities
In line with its cost savings programme of at least EUR 30 million, Tikkurila will close down two production sites, one in Germany and one in Russia, by end of 2018.
In the autumn of 2017, Tikkurila launched an extensive program to boost profitability with the aim of achieving savings of at least EUR 30 million and improving cost competitiveness. “As part of the program, we announced the divestment of our unprofitable business operations in the Balkan area. We are preparing further actions to optimize our future production and logistics network in all our operating countries.
Based on this we have, for instance, decided to close down the production facilities in southwestern Russia and in Germany by the end of 2018. In addition, we have changed our organization model. As a result, decision-making and business development are now handled more at the group level”, said Jukka Havia, Interim President and CEO.
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Tikkurila to sell its business operations in the Balkan area
