EVOLOR acquires Chempro factory and invests in technology

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 €3 million. The investment project is part of the strategic development plan, and 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 3,776 sqm, 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 percent compared to the same period in 2022. EBITDA reached a value of 8.3 million RON, and the EBITDA margin was at 16.8 percent 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 percent Romanian brand and its transformation into a regional industrial champion. To achieve the objectives, we made a new strategic investment of €3 million in the 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 percent 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 percent 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.