May 22 (SeeNews) - Romanian paint producer Sarcom, part of construction materials holding company ROCA Industry [BSE:ROC1], said on Monday that it targets 98 million lei ($21.3 million/19.7 million euro) in sales in 2023 and that it is rebranding as Evolor.
Evolor booked a turnover of 17.6 million lei in the first quarter of the year, 46% higher than in the like period a year earlier, it said in a press release.
The company targets the expansion of its network of traditional distributors at a national level, but also of the international retail networks, it said.
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 traded 0.23% lower at 8.78 lei as of 1046 CET on Monday on the Bucharest Stock Exchange.
(1 euro=4.97134 lei)