Fabryo Corporation, a paint and varnish producer is tapping into the industrial paint market by targeting clients specialising in naval, car and home appliances industries, with a 3m-euro investment.
The paint producer is jointly owned by businessman Daniel Guzu and the Oresa Ventures investment fund, and has recently finalised an investment in a powder paint production facility. Powder paint is specifically used in industrial coating and painting.
At present, Piatra-Neamt-based Kober is the only other competitor working on this area of the market, in addition to companies that import powder paint, such as Neochem (Canada) or Akzo Nobel (the Netherlands).
The decision to invest in a powder paint production facility is part of the 5m-euro investment programme Fabryo is carrying out this year.
"We've decided to enter the segment of powder paint because, unfortunately, this type of product is not being exploited enough, or used at its maximum potential (...)," said Daniel Guzu, general manager of Fabryo Corporation.
The powder paint facilities house two production lines, each with a production capacity of over 1,000 tonnes per annum, with employees working in one eight-hour shift per day.
According to Guzu, the company expects to derive annual sales worth around 3m euros on the powder paint market.
The company decided to invest on this segment when it started building its new production centre in Popesti-Leordeni, near Bucharest, in which 15m euros will be invested.
According to Guzu, Fabryo will further invest in new products in its paint and varnish range in the coming years, after having entered into a five-year partnership with DuPont, the world's biggest producer of white pigment for paint, paper and plastic.
"We'll continue to invest in research and in launching new products in partnership with DuPont. We'll also try to identify undiscovered niches and create new products, which will be launched on the same paint and varnish segment that we specialise in," says Guzu.
This year, Fabryo expects its turnover to increase by around 30%, to 42m euros. In 2006, washable paint accounted for 36% of overall sales, while enamel paint accounted for 26%.
In the same year, the paint and varnish market posted sales of around 170-180m euros, up around 15% on 2005.
According to company representatives, Fabryo currently accounts for 18% of the decorative paint market.
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