Teknos to acquire parquet lacquer business from Kiilto
Teknos acquires parquet lacquer business from Kiilto. The product assortment consists of primer lacquers, 1-component and 2-component lacquers and parquet fillers. Through the acquisition, Teknos gets the ownership of the recipes, trade names, customer contacts and know-how. The transfer of sales and logistics will take place on 1 November 2018 and the transfer of production is planned to take place early 2019.
Kiilto parquet business covers markets in Finland, Sweden, Latvia, Lithuania, Estonia, Poland, Russia, Belarus and Ukraine with an extensive network of customers. The customers are primarily parquet professionals. The products are available through distribution network or direct sales. Teknos has a firm position in all the countries through its own sales offices.
“Kiilto lacquers and fillers are complementing Teknos’ product assortment for flooring industry. We have a firm position in the markets, so we can smoothly continue to serve new customers through our local sales offices and to provide them even wider assortment of other products”, says Arto Mannonen, Managing Director, Teknos Oy.
Founded in 1919, Kiilto Oy is a Finnish, family-owned producer of chemical industry products for construction and industry. Business involves the development, manufacturing and marketing of adhesives and closely related products.
”Divest of parquet lacquer business to Teknos was a natural decision based on our strategy. In our construction and building business, we will focus in addition to the wet room systems to the floor surface gluing and levelling of floors. Kiilto continues the production and sale of parquet glues. Teknos as paint producer has a strong experience on surface treatment, so Kiilto products will get an excellent new home and future with Teknos. The high service level for customers will continue unchanged without any interruptions”, says Anssi Asikainen, Managing Director, Kiilto Oy.
The product assortment consists of 10 products and 23 product items.
”Kiilto is a well-known brand and the product trade names such as Aku de Luxe and Kalle Pro are well appreciated among the parquet professionals. All the products have “Finnish Key Flag” and they are produced in Finland with a responsible and professional manner. The products have M1 classification that stands for low emissions. These values connected to Kiilto brand are well appreciated, even among our customers”, says Sini Puonti, Product Manager, Teknos Oy.
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