Fabryo sees 30% turnover increase

Varnish and paint producer Fabryo Corporation posted an approximately 32 million-euro turnover last year, a 30% increase against the previous year, according to the company’s preliminary results. “The increase in Fabryo’s sales mirrors the progression of the construction market, which has continued to grow over the last few years. Last year saw an increase in the construction and renovation of private and public buildings and residential centres,” stated Marga Alexe, marketing manager of the Fabryo Corporation. The company estimates that its growth rate this year will remain the same as last year, due to intense activity on the construction market and heavy competition on the varnish and paint market. As a result, Fabryo’s business could be pushed up to 41 million euros this year. The company’s development was substantially boosted last year, when Swedish investment fund Oresa Ventures acquired 49% in varnish and paint producer Guzu Chim, which, following a rebranding process, became Fabryo Corporation.