MAIA, Portugal - CIN, the leading paint and varnish company on the Iberian Peninsula, unveiled plans to invest EUR 12 million to increase the manufacturing capacity of its plant in Maia, Portugal, which produces powder coatings for the industrial sector.
The investment is scheduled for various phases over five years. The first phase has already begun. It comprises a total of EUR 6 million and was completed in July.
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 channeled for export.
In the second phase, from December 2012 to February 2013, a specific products unit will be installed, encompassing an investment of EUR 1.5 million. The third and final phase will increase the installed capacity to 14,000 tons/year through the installation of new production lines.
The expansion will not only allow the brand to increase its operations in key overseas markets such as Central Europe, but will 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.