Bucharest, 10 October 2023 – EVOLOR, one of the largest players in the Romanian paint and varnish production industry, announces the completion of the acquisition of the former Chempro paint factory and investments in technology, the project having a total value of EUR 3 million. The investment project is part of the strategic development plan, the company marking 30 years of activity this year.
By acquiring the Chempro factory, located on the Oltchim Râmnicu Vâlcea platform, EVOLOR will modernize and operationalize a space of 3776 square meters, to accommodate new production, logistics and administrative capacities. Thus, EVOLOR strengthens its position in the region, playing an active role in the revitalization of the Vâlcea region, in the past a landmark for industrial progress in Romania.
At the national level, the EVOLOR company ranks 7th among the top producers of varnishes, paints, adhesives and mortars, according to business volume. In the first semester of this year, EVOLOR recorded a turnover of 49 million lei, up 32.5% compared to the same period in 2022. EBITDA reached a value of 8.3 million RON, and the EBITDA margin was at 16.8% of turnover, according to the report for S1 2023.
„The year 2023 is a reference moment for EVOLOR, proof that we are in the right direction, part of a solid structure, which offers us the necessary capabilities for the development of this 100% Romanian brand and its transformation into a regional industrial champion. To achieve the objectives, we made a new strategic investment of EUR 3 million in Vâlcea area, acquiring and equipping with modern technology the former Chempro factory, to increase production and logistics capacities. In this way, we contiune the accelerated development and the realization of strategic investments, which can generate value for business and the community for the next 30 years.” says Bogdan Pîrvu, CEO of EVOLOR.
Part of the portfolio of ROCA Industry holding since December 2021, EVOLOR estimates a 53% increase in turnover from the moment of the takeover and the results in 2023. The turnover related to the year of the takeover, 2021, is 64 million RON, and by the end of 2023, EVOLOR targets a business volume of 98 million RON. An increase of almost 30% is also registered at the level of the workforce, with the company currently having 145 employees, compared to 112 at the time of the takeover by the holding company.
EVOLOR products are sold nationally, being available in the large „Do it yourself” (DIY) store chains, such as Dedeman, Leroy Merlin and Brico Depot, but also in traditional stores, through a network of specialized local distributors. The year 2023 also marks the start of export activities, with products reaching the markets of the Republic of Moldova and Israel.
With a 30-year presence on the market, EVOLOR was founded in 1993 under the name Sarcom and, since December 2021, it is owned by the ROCA Industry holding, specialized in the construction materials segment. With a market share of 8%, the company sells a wide range of products (washable interior and exterior paints; decorative plasters; enamels, varnishes, primers – both water-based and in organic solvents; thinners and complementary products; pigments superconcentrates). The company’s best-known brands include Sticky and Coral.
About ROCA Industry
ROCA Industry, the first industrial holding of construction materials in Romania, listed on the AeRO market of the Bucharest Stock Exchange, owns, directly and indirectly, a number of 8 companies – performers in the specific sectors of activity: BICO Industries (the largest producer of glass fiber mesh from the CEE and in the top 5 European manufacturers), EVOLOR (one of the largest players in the paint and varnish industry), ECO EURO DOORS (the largest Romanian manufacturer of doors for residential construction), DIAL (producer of metallic wire products), ELECTROPLAST (market leader of electrical cables for railway infrastructure) as well as fiberglass producers Terra, Europlas and Iranga Technlogijos, through BICO Industries.