At the end of 2012, Atlas Corporation divided its operations and its construction material division was reorganized as a separate business called Atlas Paints.
Following the merger, Fabryo Corporation and Atlas Paints became part of the same group whose main shareholders are Oresa Ventures and Chroma Holdings, controlled by Greek businessman John Sitinas.
The group of companies Fabryo Corporation-Atlas Paints, market leader on the segment of decorative paints and lacquers in Romania, currently is in the process of implementing the integration plan and this year will continue to operate on the market through the two companies. The group’s chief executive officer Dragos Militaru said this year’s target is to boost the new group’s turnover by over 10%, despite a difficult market. The group reported sales of over EUR39 million in 2012.
Fabryo, one of the leading producers of decorative paints and textured plasters in Romania, owns a production facility in Popesti-Leordeni and employs around 270 people.
Atlas Paints operates on the production platform in Tunari, Ilfov county, and employs around 170 people.
The merger, which was announced in September 2012, was also approved by Romania’s Competition Council.