February 1 (SeeNews) - Paints, varnishes and chemicals group Policolor-Orgachim said on Wednesday that it expects to post a turnover of 90 million euro ($97.4 million) in 2023, given an increase and automation of production capacity and expansion of its factory in Bucharest.
The group has signed a 2 million euro contract with local construction firm Masterbuild for a 1,000 sq m extension of the factory, Policolor-Ogarchim said in a press release.
Following the expansion, the factory will have a total surface area of 4,500 sq m and will be able to increase its annual production decorative paints and plasters by 70%.
Policolor-Ogarchim, established by the Romanian company Policolor SA and its Bulgarian subsidiary Orgachim AD, is a group active the production and sale of varnishes and paints, resins and specialty chemicals. The group is mostly active on the Romanian and Bulgarian markets.
($=0.9237 euro)