Teknos Group Oy has completed the acquisition of Russian company OOO Trading Company Massco.
A Russian industrial coatings company catering to the metal industry under the trademark of Massco, OOO Trading Company Massco manufactures part of its products under subcontracting arrangements based on the company’s know-how. Following the acquisition, this production will be transferred to Teknos’ new factory in St. Petersburg.
According to Teknos Group Oy Senior Vice President Pekka Rantamäki, Teknos already has a strong position in the Russian industrial coatings market and this acquisition will further strengthen their position in local markets. Massco’s products will not only supplement Teknos’ product range but also expand their customer base in Russia.
OOO Trading Company Massco employees will transfer to Teknos Group Oy. An established operation with a growing market share in Russia, OOO Trading Company Massco’s turnover exceeded 500 million roubles in 2015.