With an annual output capacity of 20,000 tons, the resins factory will provide raw material for paint and lacquer producers, as well as for companies in Europe operating sectors like carmaking and car parts manufacturing, furniture and wind energy equipment.
Rebuilding and consolidating the resins plant, one of the most important assets of Policolor-Orgachim group, consisted of an ample program of modernization, automation and control for the industrial processes. Related costs made up over 65% of total investment. The modernization program took nearly 15 months.
Orgachim Resins supplies resins to companies in Romania, Bulgaria, Greece, Serbia, Hungary, Austria, France, Benelux, Italy and the Czech Republic.
Founded in 1901, the resins factory halted production early 2012, due to a fire.
The Policolor group registered sales of around EUR60 million in Romania and Bulgaria in 2013. The group expects single-digit sales growth in Romania and an increase of EUR10-20 million in Bulgaria, after reopening the plant in Bulgaria.
The company has being operating in Bulgaria since 1998, following the acquisition of a 51% stake in profile company Orgachim.
Policolor, one of the leading players on the Romanian paint and lacquer market, has 900 employees in Romania and Bulgaria and is controlled by investment fund RC2.