Teknos has acquired GORI Industry business from Dyrup
Teknos has acquired GORI Industry business from Dyrup A/S. GORI Industry is specialized in paints for industrial wood. The net sales of the acquired business are approx. EUR 30 million and number of employees about 120. It has activities in 20 European countries. The purchase price was about EUR 12 million.
The acquisition includes the GORI Industry wood business with sales companies, but not real estate in Kolding. Production will be transferred from Kolding to Teknos Danish factory in Vamdrup and to Teknos Rajamäki factory in Finland within two years' transfer period. This will strengthen Teknos' factories' capacity utilisation and productivity.
The forces of 2 sales organisations of Teknos and GORI Industry will be combined giving a stronger sales force and strengthening Teknos industrial wood market position.
Teknos main businesses are Industrial Wood paints and Metal paints (wet paints and powder coatings). After the acquisition these segments are almost equal and form about 80% of the total sales of Teknos. The European-wide GORI Industry's products suit excellent to Teknos product palette and open new opportunities at the industrial wood markets e.g. in Scandinavia, in Poland, Germany, Hungary, Czech Republic, Austria and Italy.
Other news from the department business & finance
