Portuguese paint company to build second factory in Angola

19 February 2010

Vila Nova de Gaia, Portugal, 19 Feb – The Barbot paint and varnish company is preparing to nearly double production in Angola by building a second factory, the company’s executive director for Angola, Joao Carlos Barbot, told the newspaper Publico.

The decision aims to meet rising demand generated by increased construction of buildings by the many Portuguese construction firms operating in Angola and by many Angolans who “seek quality products,” Barbot said.

The new factory to be built in the Luanda region will nearly double current production capacity in Angola, from 140,000 litres to 250,000 litres per month, and reaffirms the northern Portuguese company’s strategic emphasis on Angola.

Besides increasing production capacity, the company is looking to increase distribution by opening two more stores – one a warehouse outlet – in southern Angola, covering the Benguela and Lobito region.

Company figures indicate that nearly 2 million euros have been invested to date in Angola, partly from own capital and financing assured by Portuguese banks operating in the country.

The Portuguese company’s investment has been made in partnership with Paulo Nunes, a Portuguese investor resident in Angola for several years, who holds 25 percent of Barbot Angola.

Barbot Angola invoiced US$4.5 million last year, accounting for 7 percent of the group’s total billing of 43 million euros. (macauhub)