Fabryo estimates 30% increase in turnover

Varnish and paint producer Fabryo Corporation announced on Tuesday that it estimated an approximately 42 million-euro turnover for this year, up 30% on 2006. "Last year we achieved our objectives, that is an increase of 30% in turnover, the completion of our investments and the expansion our product portfolio on the premium segment. For 2007, we estimate to see a similar growth rate and to consolidate our position on the market. This year, each competitor will probably outline their territory more clearly," the company's general manager, Daniel Guzu, stated in a company release. Last year, the company, then known as Guzu Chim - posted a 32.5 million-euro turnover. Emulsion paint accounted for 36% of the total sales, whilst enamel paint accounted for 26%. Ove r 7% of the turnover was generated by the sales of paint, varnish other related products, with the remaining 26% derived from products such as adhesives, solvents and car care products.