TIKKURILA AND EASTMAN CHEMICAL CLOSE A DEAL ON RESIN PLANT

TIKKURILA AND EASTMAN CHEMICAL CLOSE A DEAL ON RESIN PLANT

Tikkurila and Eastman Chemical Company have finalized the negotiations for the acquisition by Tikkurila of Eastman´s resin plant in Vantaa, Finland. This arrangement will ensure the Tikkurila Group a flexible resin supply to its production units.

The plant producing polyester and alkyd resins will be transferred immediately to Tikkurila Services Oy, the service-oriented subsidiary of Tikkurila Oy. The site operated in Vantaa employs 25 people, all of which will transfer from Eastman to Tikkurila.

Tikkurila, part of the Finland-based Kemira Group, is the largest manufacturer of paints and coatings in Scandinavia with production in 10 countries. Net sales for Tikkurila in 2001 are estimated in excess of EUR 450 million and the number of employees is 2,600. For more information about Tikkurila, visit www.tikkurila.com.

With headquarters in Kingsport, USA, Eastman manufactures and markets chemicals, fibers and plastics. The company has approx. 15,000 employees in 30 countries and had sales of USD 5.3 billion in 2000. For more information about Eastman, visit www.eastman.com.

For further information, please contact:

Tikkurila Oy
Tom Nurmi, Vice President, Technology
Tel. +358 9 8577 2398
Mobile +358 400 458 472


Eastman Chemical Europe,
Middle East Africa Ltd.
Manuel Linnig
Tel. +31 70 370 1722
Mobile +49 171 791 9475