Slovenian chemical group Helios has acquired an 82% stake in Russian decorative finishes producer Odilak
Slovenian chemical group Helios has acquired an 82% stake in Russian decorative finishes producer Odilak for an unspecified sum, Helios said in a press release on Thursday, 9 March.
Helios said the purchase was aimed at strengthening its market presence in the former Soviet Union, an important market for the group.
Helios refused to specify the purchase price or other details of the deal.
According to Helios, Odilak employed 260 workers and generated revenues of EUR 13m in 2005.
Helios, the biggest maker of paints and varnishes in Central and Eastern Europe, exported EUR 48m worth of products to the former Soviet Union last year, 70% of that to Russia.
Source: Slovene Press Agency STA