Policolor - Orgachim Group, with extensive activities in the field of production and sale of varnishes, paints, resins and specialty chemicals, both in Romania, Bulgaria, and on other international markets, started the expansion of its paints plant in Bucharest in January 2023. MASTERBUILD has been appointed general contractor for the expansion project and will build an additional 1,000 sqm, next to the existing 3,500 sqm, at the Policolor factory on Timisoara Boulevard in Bucharest.

The new space will cater to the Group's production activities. Currently, several types of industry-specific activities are carried out at the Romanian plant, such as paints, enamels and water-based plasters production.

The expansion responds to a need for organizational transformation with the aim of streamlining and transforming internal processes to better meet the needs of the company`s customers, a process started by the group in 2021 and completed for the Romanian organization at the end of 2022. Thus, the company aims to increase and automate its local production capacity in an increasingly competitive context. Policolor Group targets a turnover of over 90 million euros in 2023, up from the level achieved in 2022. With the new investment, the Policolor plant will be able to produce up to 70% more decorative paints and plasters annually.

"Although the pandemic and the post-pandemic period have been challenging for most industries, with many of the problems caused by the supply chain challenges and price fluctuations, the Romanian market remains very competitive. This is the main reason we see the expansion and automation of the paints plant as a natural step to cater to the increased demand on the local market and meet the needs of our customers," says Irina Mandoiu, CEO Policolor-Orgachim.

"We are honored to work with such a dynamic player and look forward to seeing local production capabilities multiplied and upgraded where appropriate. According to the INS data, Romania has increased the volume of construction works annually, which we also see in the market and this is is a good sign for the entire economy, says Stefan Vayma (in opening picture), CEO of MASTERBUILD General Contractor & Property Developer.

Policolor - Orgachim Group is active in the production and sale of varnishes and paints (architectural, automotive, and industrial), resins, and specialty chemicals. The Romanian company Policolor S.A. and its Bulgarian subsidiary - Orgachim AD, produce and sell paints, especially in Romania and Bulgaria. The group also includes Orgachim Resins, a resin producer, and Ruse Chemicals, an anhydride manufacturer, with markets in Central and Southeast Europe, but also in Asia. At the moment, the group is the market leader in Bulgaria, with a share of over 40% according to internal estimates. In Romania, it holds approximately 9% of the market, in a highly competitive local environmental context.

MASTERBUILD is an industrial and logistics construction and development company, active since 2005 in both industrial construction and commercial and residential projects. A Romanian entrepreneurial company, it operates both throughout Romania and in international markets.

At the European Union level, in 2021, Romania recorded among the highest annual increases in construction output, with data showing an increase of 13.2% in our country, compared to the EU average of 4.3%.

- This is a Press Release.