“The legal merger of the two entities has been completed and, formally, the new company will be called Fabryo Corporation SRL, but will retain its commercial name and identity as Fabryo-Atlas Paints. Following the completion of the merger, the main shareholders of Fabryo – Atlas Paints remain Swedish investment fund Oresa Ventures and Chroma Holdings, owned by Greek businessman John Sitinas,” the company said in a statement Wednesday.
The new company will be run by a management board consisting of Laurentiu Ispir, Ioannis Anagnostou and Daniel Nițulescu, while executive general manager Dragos Militaru will be in charge of operative management.
The merger of Fabryo, owned by Oresa Ventures, and Atlas Paints, the construction materials division of Atlas Corporation, controlled by Sitinas, was announced in September 2012.
Following the merger, the portfolio of Fabryo-Atlas Paints includes lacquers and paints, as well as thermal and hydro insulating products .
Fabryo-Atlas Paints owns a paint, mortars and adhesives production unit in Popesti-Leordeni and an insulating materials production unit in Tunari, near capital Bucharest. The company has around 440 employees following the merger.