Fabryo and Atlas complete merger

Newsroom 06/03/2013 | 07:08

The Competition Council has approved the merger of dyes manufacturer Fabryo Corporation and Atlas Corporation – the construction materials producer which broke off from Atlas Corporation last year. The merger was announced at the end of 2012.

The Fabryo Corporation-Atlas Paints group of companies is presently implementing an integration plan and throughout 2013 it will continue to do business as two distinct entities. Their main shareholders are Swedish investment fund Oresa Ventures and Chroma, a company owned by Greek businessman John Sitinas.

The group’s turnover amounted to over EUR 39 million in 2012. “In 2013 our target is to grow the sales of the new group of companies by more than 10 percent on a market which continues to be precarious,” said Dragos Militaru, the group’s general manager. He was appointed to this position last August after having previously worked as chief marketing officer at Fabryo Corporation.

Simona Bazavan

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