Tikkurila

Business in Russia

Due to the inability to sustainably operate at even the bare minimum, PPG Industries has made the decision to activate options to exit Russia, including a possible sale or controlled exit from the Russian market. Finnish paint maker Tikkurila's products manufactured at plants in Russia will be sold under a new brand, Tikkivala, from the first quarter of 2025.

Decision trail

Decision date 06/02/2025 · Reference ↗

Reduce Russian operations; stop sales to aerospace. Due to the inability to sustainably operate at even the bare minimum, PPG Industries has made the decision to activate options to exit Russia, including a possible sale or controlled exit from the Russian market. A new deal with assets of a foreign company may be in the works on the Russian paint and varnish materials (PVM) market. Top managers of Tikkurila's Russian office have created a structure with the participation of a representative of an investment bank and may be planning to buy out a business controlled by PPG Industries from the USA. The owner of St. Petersburg-based Tikkurila LLC since February 5, 2025 has become Moscow-based SmartBusinessGroup JSC, according to the Unified State Register of Legal Entities. This LLC is the legal entity of the Russian business of the Finnish paint and varnish manufacturer Tikkurila. Before that, the company belonged to Finnish Tikkurila Oyj. 05.02.2025: JSC "SMARTBUSINESSGROUP" becomes the new founder of the organization LLC "Tikkurila". The entry about the founder TIKKURILA OYJ has been removed from the Unified State Register of Legal Entities.

Local stats (LeaveRussia)

Status history since 2022

1. 03/08/2026 — exited · Imported from KSE LeaveRussia

Exposure profile