Śnieżka acquires 80% of Poli-Farbe

Pharma

polifarbe.hu

Polish paint maker FFiL Śnieżka has agreed to acquire an 80% stake in Hungarian peer Poli-Farbe within the framework of a cooperation agreement, Poli-Farbe said on Tuesday, as reported by Hungarian news agency MTI.

Photo: polifarbe.hu

Poli-Farbeʼs Hungarian owners will retain a 20% stake in the company, while the headcount at its production base in Bócsa (Central Hungary) will remain unchanged at 265, the company said. The partnership with Śnieżka will strengthen its exports in the region and improve its position on the plaster market, it added.

Poli-Farbe Managing Director Antal Szabó said partnering with Śnieżka on purchases of feedstock would give the company stability and make developments more predictable. The two companiesʼ partnership also paves the way for joint research and development in the long term, he added.

Śnieżka Chairman Piotr Mikrut said the transaction would be advantageous for both sides. Hungary will become Śnieżkaʼs biggest export market as a result.

Poli-Farbe is among the biggest sellers of interior paint in Hungary. Last year, it had revenue of HUF 12.5 billion.

Śnieżka is a market leader on the paint and varnish markets in Poland, Ukraine, and Belarus. It sells more than 150,000 tons of paint a year and employs over 1,000 people.

ADVERTISEMENT

Czech economic confidence weakens in September Analysis

Czech economic confidence weakens in September

Parl't extends pandemic legal provisions Parliament

Parl't extends pandemic legal provisions

Energy Efficiency: End-users, Energy Traders and Other Stake... Inside View

Energy Efficiency: End-users, Energy Traders and Other Stake...

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.