The Timisoara-based paint manufacturer Azur, a subsidiary of ICC Industries Inc New York, posted a turnover of RON 44.3m (€10.3m) in H1 2010, an increase by 52% compared to H1 2009, Ziarul Financiar reported. The growth in sales is a result of the increase in the production for exports. Azur’s representatives expect the company’s sales to go up by 20% in 2010 compared to 2009 to €18.8m. The manufacturer initially forecast a growth in its sales revenues by 5% this year compared to 2009 when it posted a turnover of €15.7m. Exports account for 70% of the company’s turnover at present.
Last year, the Romanian paint market was estimated at some €180m, a decrease from €220m in 2008.
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