VANTAA, Finland - Tikkurila, which is responsible for Kemira's paints and coatings business, has increased its ownership in the Ukrainian-based company Kolorit Paints. After the Ukrainian party LGU sold its 49% stake, Tikkurila Oy owns 100% of the company shares.

At the same time, the company name was changed to TOB Tikkurila. With net sales totalling approx. $3.7 million (€2.9 million) in 2005, the company manufactures waterborne paints in Kiev for mainly professional users under the brand name Kolorit. From now on, TOB Tikkurila will also market Finnish-made decorative paints under the Tikkurila brand and industrial coatings under the Tikkurila Coatings brand.