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Tikkurila Oyj and the City of Vantaa are preparing a cooperation agreement on the development of Tikkurila land area

23.09.2020

Tikkurila Oyj and the City of Vantaa are preparing a cooperation agreement on the development of Tikkurila land area

Tikkurila Oyj Press Release 23 September 2020

Tikkurila Oyj and the City of Vantaa are preparing a cooperation agreement related to the development of Tikkurila's land area in Vantaa, Finland. The aim is to agree on the matter in October.

Two years ago, Tikkurila Oyj announced that it is planning the relocation of its Finnish business operations in Vantaa and the development of the current land area as part of the company’s broader project for production network optimisation. The centre and the settlement of the Tikkurila district in Vantaa have been expanded over the years near the Tikkurila Oyj production facilities. 

“Our existing plants in Vantaa are fully operational and will be maintained through investments in maintenance. However, the current production capacity as such does not meet our future needs and targets for the long term. This project is an important part of our growth strategy and a step towards reaching our important sustainability targets”, says Elisa Markula, CEO of Tikkurila.

“The implementation of a potential new plant is up to ten years away. During that time, the production will continue in the current units. No decisions regarding the building of a new plant or its location have been taken so far”, Markula emphasises.

Preparations for the development of the area have proceeded in cooperation with the City of Vantaa. The cooperation agreement being prepared describes the phases of the development of the area, taking into account the continuation of Tikkurila Oyj’s production and warehousing activities in the area during the development. The cooperation agreement covers the entire current land owned by Tikkurila Oyj in Vantaa, which is approximately 21 hectares.

According to plans, the development of the area will progress in several phases and the detailed city planning of the actual plant area will start last. For the time being, the plants in the area will continue to operate normally at their current locations.

“The agreement is an important step in the good and long-term cooperation between the City of Vantaa and Tikkurila Oyj. It creates clear further steps for the development of the area towards a prestigious and sustainable new district in the cultural landscape of the riverside town of Tikkurila, while ensuring the continuity of key activities in the region for Tikkurila Oyj for the time required”, says Antti Kari, Real Estate Director at the City of Vantaa.

Tikkurila Oyj has operated in Tikkurila, Vantaa, since its establishment in 1862, and all of its operations in Finland are located there. Tikkurila has two plants in the area that produce water- and solvent-borne decorative and industrial paints. The plants were brought into operation in 1975 and 1982, and their total annual production capacity is approximately 60 million litres. Tikkurila Oyj employs more than 500 people in Vantaa.

About us

Sustainable Nordicness
Tikkurila is a leading Nordic paint company with expertise that spans decades. We develop premium products and services that provide our customers with quality that will stand the test of time and weather. We operate in eleven countries and our 2,600 dedicated professionals share the joy of building a vivid future through surfaces that make a difference. In 2019, our revenue totaled EUR 564 million. The company is listed on Nasdaq Helsinki. Nordic quality from start to finish since 1862.

www.tikkurilagroup.com  

Contact

For further information, please contact:

Investors, media:

Elisa Markula, CEO
elisa.markula@tikkurila.com, tel. +358 20 191 2196

Project management:

Jari Lassila, Project Director
jari.lassila@tikkurila.com, tel. +358 20 191 2720