October 10 (SeeNews) - Romanian paint producer Evolor, part of construction materials holding company ROCA Industry [BSE:ROC1], said on Tuesday it has invested 3 million euro ($3.16 million) in the acquisition and modernisation of the former Chempro paint factory in the central Valcea county.
The investment will help consolidate Evolor's position in the region but also expand by developing new production and logistics capacities, the company said in a press release.
Evolor said it achieved revenue of 49 million lei ($10.4 million/9.8 million euro) during January-June, up by an annual 32.5%.
Evolor was established in 1993 under the brand name Sarcom and since October 2021 has been fully owned by ROCA Industry. The company sells a variety of paints, varnishes, and related products.
ROCA Industry is the first strategic project of ROCA Investments, which groups Romanian companies producing construction materials. The holding company owns, directly and indirectly, seven companies - BICO Industries, Evolor, Eco Euro Doors, Dial, Terra, Europlas, and Iranga Technlogijos.
ROCA Industry shares closed flat at 8 lei on Monday on the Bucharest Stock Exchange.
($=0.945476 lei)