Policolor S.A, one of the biggest players on the local varnish and paint market, announced that will start building a new factory in Bucharest, on an area of 2.5 hectares.
Paints, plasters, enamels, varnishes and related products (primers, etc.) will be produced in the new unit, and the value of the investment amounts to EUR 5.4 million.
“We invest in long-term projects, in quality and in our team. The new Policolor factory is a natural step on this direction: it will create a more generous space for development and innovation, by creating new research laboratories, and it will help us to diversify the product and brand portfolio. We wish to have the best and the fastest solutions, in both the production and distribution area” stated David Jordan, CEO of Policolor-Orgachim.
A new 5,000 sqm warehouse
The new Policolor factory will be placed in the western part of Bucharest, on Timisoara Boulevard, on an area of 2.5 hectares. The construction is expected to be completed in April 2019, when the production can begin. The facilities designed for the new site also include a new, modernly equipped warehouse, spread over an area of 5,000 square meters.
Policolor is one of the oldest and prestigious Romanian brands. The history of the company began in 1965, when the Varnishes and Paints Company, a supplier of the national industry and Romanian consumer market was established. It became a joint stock company in 1990, under the name of SC Policolor SA. In 1997, the company was privatized through the acquisition of the majority stake by the Romanian Investment Fund together with the Romanian American Enterprise Fund; one year later, Policolor acquired the majority stake of Orgachim JSC, the largest varnishes and paints producer in Bulgaria. Today, the Policolor group also includes the resin producer Orgachim Resins and the anhydride producer Ruse Chemicals.