Adding a dash of color to the East
Polish paint producer nieżka has bought 37 percent of shares in its Belarusian subsidiary, nieżka Belpol, bringing its total stake to 88 percent.
The Polish company paid zł.460,000 in the deal, increasing its overall investment in the subsidiary to around zł.700,000. The plant, located in Zhodzina, about 50km from Minsk, produces spackle for the local market. The company says it has a 10-percent share in the Belarusian paint and lacquer market.
"The markets of CEE are a strategic investment goal for nieżka," the company's president, Piotr Mikrut, said. Apart from the plant in Belarus, nieżka also boasts a significant presence in Ukraine. It has two production units in the country, in Yavoriv and Vistova in Western Ukraine, and its market share there reaches 15 percent.
The company's ambitions are not limited to Poland's two eastn neighbors. "We are systematically working on increasing our sales in other countries," Mikrut added.
nieżka's products are available in Russia, Lithuania, Latvia, Moldova, Kazakhstan, Hungary, Slovakia and Romania.
In August, the paint producer set up a subsidiary in Romania, called Sniezka Romania, in which it has an 80-percent share. The company deals with distribution of nieżka's products in Romania.
