Varnish and paint producer Fabryo Corporation posted turnover worth 13 million euros (46 million RON) in the first half of the year, an approximately 22% increase from the corresponding period of last year, according to company officials.
"The growth in turnover in the first six months was triggered by the launch of our new product, the teflon-based Savana paint, and by the development of the construction market and rural tourism," said Marga Alexe, marketing manager of the Fabryo Corporation. Washable teflon-based paint is highly stain resistant, as stains cannot penetrate the coating and, thus, can be removed very easily.
Company representatives expect the growth rate of sales to keep up throughout the second half of the year, due to products launched in partnership with the American giant DuPont, the world leader in the production of white pigment for paint, paper and plastic.
On the varnish segment, where the Savana brand is active, Fabryo sales in the first half went up 28% against the same period last year. Similar growth was seen on the segment of washable paint, where sales went up 25% against the first six months of 2005.
"Washable paint had the most spectacular results, due to the launch of the new product, the Savana, with a teflon Surface Protector. The product was created and launched in partnership with DuPont, and we are to team up again in the future for other new products," says Alexe.
In addition to the washable teflon-based paint, Fabryo has also created a teflon-based wood varnish with DuPont.
"The increasing numbers of holiday homes, which are built mostly of wood and wood decorative elements, as well as the new trend to build gardens with pavilions and wooden benches have been the drive behind the 33% growth in varnish sales," specifies Alexe.
Fabryo has signed a five-year agreement with the Americans at DuPont.
The company's growth became more prominent this year, when the Swedish investment fund, Oresa Ventures, acquired 49% in the varnish and paint producer Guzu Chim, which became the Fabryo Corporation following a rebranding process.
Recently, the company has positioned itself among the top players on a competitive market that has annual sales estimated at 140 - 150 million euros. Its main rivals are K?ber from Piatra Neamt (another family business), Policolor Bucharest and Dufa Deutek, a business that became part of the Advent investment fund portfolio last year.
The company announced it would invest some 4 million euros this year to finalise the construction of a plant that is located on a six-hectare plot in the town of Popesti-Leordeni.
"In the first half of the year, we have invested 2.4 million euros in completing projects already underway," explains Alexe.
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