Lisbon, Portugal, 19 April – Portuguese paint company Barbot said Tuesday it would invest US$1 million on building a paint factory in Luanda, Angola, thus beginning its internationalization process.
In a statement, Barbot said that the new factory would have an annual production capacity of 1 million liters of paint, and should have turnover of between 1.5 million and 2 million euros as of next year.
The unit will have a total area of 1,200 square meters and will receive machinery previously used at the company’s Gaia factory in Portugal, “a solution which has made it possible to reduce investment levels,” the company said.
The Angolan paint market has an approximate value of 20 million euros per year, around 5 percent of the value of the Portuguese paint market, Barbot said.
Founded in 1920, Barbot is one of Portugal’s four largest paint manufacturers, annually producing around 300 tons of emulsions and solvents. (macauhub)