Portuguese company Euronavy plans to build an industrial paint factory in Brazil, where this year the company won contracts worth a total of €30 million over the next five years. According to the company’s chairman Mário Paiva, the factory would be built in the port of Suape, to the south of the city of Recife, and production was expected to begin in 2009.
“We signed a protocol with the government of the Brazilian state of Pernambuco to set up a factory to manufacture marine and industrial paints, without heavy metals or solvents, representing an investment of €10 million,” Paiva said.
With a production capacity of 4,000 tons per year, the new factory will be owned by the Portuguese company’s Brazilian subsidiary, which is 100% owned by the parent company, based in Setúbal, Portugal. The contracts won for this year are for anti-corrosive paint for 14 ships and an oil platform.