“The integration process goes as planned and is expected to be completed in 2020”, said Akzo Nobel representatives.
The increase in Fabryo’s revenue came in the context in which the Romanian decorative paints market sees annual increases of 4%, being one of the most powerful in the region of Central Europe, according to data from the Dutch company.
Fabryo had been acquired by Dutch paints manufacturer Akzo Nobel, in the summer of 2018, from Swedish investment fund Oresa Ventures, within a transaction of over EUR50 million.
Fabryo ended 2018 with a turnover of RON218 million, up 10% year-over-year, according to Finance Ministry data. Its profit stood at nearly RON12 million and the average staff number reached 394.
The acquisition of Fabryo enabled Akzo Nobel to also enter the segment of decorative paints distributed in B2B (business to business) system towards developers of real estate projects.
Fabryo, operated through the company Fabryo-Atlas Corporation, owns a production facility of paints, mortars and adhesives in Popesti-Leordeni and a production unit of thermal-insulation products in Tunari (Ilfov County). Currently, there are no new factories in sight. Akzo Nobel’s production units closest to Romania are located in Greece and Poland.
Fabryo sells the bulk of its output on the Romanian market, mostly in the region of Dobrogea and capital Bucharest, where the products are distributed directly from its warehouses in Ilfov. In the other regions of the country, Fabryo has units in the localities of Constanta, Iasi, Craiova, Cluj-Napoca and Cetin (Timis County).