Mapei Acquires Orgachim Production Plant
Mapei, a worldwide leader in the manufacture of adhesives, sealants and chemical products for the construction industry, has announced the acquisition of a production plant in Ruse (Bulgaria) from Orgachim, a Bulgarian company that manufactures varnishes and paints. This plant is dedicated to the production of ceramic tile adhesives and thermal insulation systems. The plant, located in a strategic position at the border between Romania and Bulgaria, consists of an area of more than 15.000 square meters.
“This acquisition is oriented to allow Mapei to strengthen its presence not only in Bulgaria but also in Romania, where the Group is currently operating through its local commercial subsidiary, Mapei Romania,” said Veronica Squinzi, Global Business Development Director of Mapei Group. “Our investment also proves that, despite the slump in the construction industry that has been caused by the economic crisis, the Mapei Group keeps looking at the countries of Eastern Europe in order to maximize any attractive opportunities from new and growing markets.”
As a result of this acquisition, Mapei Group currently owns 56 production plants over the world. The company has had a presence in Bulgaria for some time thanks to several local distributors. The acquisition of the new production plant in Ruse will allow Mapei to assure its customers a constant presence in Bulgaria and to develop a range of products properly customized for local clients’ requirements.
Mapei Bulgaria will be managed by Plamen Petrov, newly appointed general manager, who will capitalize on his experience in the construction industry in the Bulgarian market to maximize the development of the company. Production in the Bulgarian plant will be at full capacity starting in 2010.