Teknos Group completes exit from Russia

As a consequence of current situation and its evolution, Teknos Group suspended its Russian operations in March 2022 and in April 2022 announced planning of controlled exit from Russian market. The process has been completed on 11th of July 2022 as 100% of shares in Russian entity – Teknos OOO - were sold. 

Teknos has started its operations in Russia in 2005. It had offices in Moscow and fit for purpose production plant in St. Petersburg, which was opened in June 2015. 

“This is a sad and unique moment in Teknos history. This was the only way to ensure any continuity for our personnel. I wish the new owners’ good luck in running the business, supported by the expertise and experience of our Russian team.” - Paula Salastie, Teknos CEO and owner of Teknos Group says.

Teknos is a global coatings company with operations in more than 20 countries in Europe, Asia, and the USA. It employs approximately 1,800 people and the net sales for 2021 was EUR 420 million. Teknos is one of the leading suppliers of industrial coatings with a strong position on architectural coatings on selected markets. Teknos wants to make the world last longer by providing smart, technically advanced paint and coating solutions to protect and prolong. Teknos always works in close cooperation with its customers. It was established in 1948, and is one of Finland’s largest family-owned businesses. For further information, visit www.teknos.com