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“Orgahim” overtakes the production of “Polycolor” – Bucharest

Submitted on Tuesday, 24 February 2009No Comment

The General assembly of shareholders of “Orgahim” AD authorized the Executive council and the Chief executive of the company to sign a contract with the Romanian “Polycolor” to transfer all of the production of paint and lacquer of “Polycolor” to the factory in Ruse.

The change will affect the products for “Polycolor” AD in the factory in Ruse. The raw and other materials, including packages, will be provided by “Orgahim” AD at prices and conditions approved by “Polycolor” Bucharest.

The production of the Romanian establishment will be reduced to automobile and industrial paint. Contracts will be signed for a one year term and can be extended with a decision of the General assembly of shareholders. As a result of the new agreement, “Orgahim” AD expects a growth of export with over 15 million euro per year.