CIN, Iberia's leading paint and varnish company, unveiled plans to invest 12 million euros in increasing the manufacturing capacity of its plant producing powder paints for the industrial sector, in Maia.
“We have been turning away customers because we do not have any more capacity. It was essential to increase the capacity in a segment - Industrial Finishes - which is geared towards exports and which has ample business potential for the CIN Group," said João Serrenho, chairman of the CIN Group. "Our products are well accepted by foreign markets and requests are regularly made."
The investment is scheduled for various phases over five years. The first phase has already begun. It comprises a total of six million euros and will be completed in July this year.
Powder paints currently represent 11 percent of the group’s total turnover. The group will produce an additional 50 percent in the first phase, reaching 10,000 tons per year. This increase in production will be almost entirely channelled for export.
In the second phase, from December 2012 to February 2013, a specific products unit will be installed, encompassing an investment of 1.5 million euros. The third and final phase will increase the installed capacity to 14,000 tons/year through the installation of new production lines.
These works will not only allow the brand to increase its operations in key overseas markets such as Central Europe, but also strengthen the CIN Group's leadership in Portugal, driving an increase in its current market share.
Environmental sustainability was considered throughout the project, with the introduction of new technologies and new production processes, such as bonding, which allows the development of polyester powder coatings with metallic effects, free of heavy metals, to be used in architectural projects. The processes of the current plant will also be streamlined and made more flexible. This investment in market leading technology allows the creation of ever more innovative products that are eco-sufficient and also more competitive.
The expansion of the Maia plant will initially create an additional 15 jobs to the 58 already existing, and increase the area devoted to R&D, which currently employs 17 people solely in the area of powder paints.
CIN INDÚSTRIA, S.A. was founded in 2007. It was created by the demerger of CIN, S. A., with the aim of optimising the company's position in the industrial paints market, a market that CIN has lead since 1958.
CIN INDÚSTRIA sells powder paints developed and produced in its plant located in Maia. These paints are sold under the Megadur and Ibercoat brands and are aimed at the following markets: architecture, functional and industrial use as metal furniture, job coaters, home appliances and automotive components.
The Megadur brand has been the segment leader in Portugal since the 90s. A large percentage of production is aimed at the European market, namely Germany, Spain and France.
CIN owns 10 manufacturing plants in six countries—Portugal, Spain, France, Angola, Mozambique and China—and employs about 1,400 workers for the decorative and civil construction segments, plus protective and industrial coatings (metal and wood). CIN occupied the 46th place in the world rankings of producers of paint and varnish in 2012 (Ref: Coatings World). It exports to several markets in Central Europe, Latin America, Africa and Asia.
CIN invests 12 million euros in Maia plant
Published July 30, 2012
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