Orgachim AD (Bulgaria)

Bulgaria's largest paint and varnish maker Orgachim, which was established in 1901, is indirectly owned by Romania's largest paint manufacturer Policolor. The company, headquartered in the Danube port of Ruse, offers paint products for home, industry and professional use. It produces a wide range of products such as paints for walls and facade, paints and enamels for wood and metal, lacquers for wood, primers for metal, primers and stains for wood, degreasers and thinners, pigment pastes and commodities, road paint, thermoinsulation, systems primers, paints and plasters for interior, systems primers, paints and plasters for exterior, flooring systems, fireprotection systems, adhesives and dry mixtures. Orgachim sells its products under the Fassagen, Alutin, Hamelekon, Protecta, Mefisto, Balkyd, Ruviplast, Vynakol, Leko, Emanel, Deko and Blago trademarks.
Local privatisation funds and individuals acquired 24.36% of Orgachim's capital against privatisation vouchers under the first round of Bulgaria's mass sell-off programme in 1997. In July 1998, Bulgaria's Privatisation Agency sold a 51% of Orgachim to Malta-registered Whitebeam Holdings Ltd., owned by Policolor Romania, for USD 8.9 million. Of the remaining shares, 15% was earmarked for sale at preferential terms to the company's employees and 9.0% were offered to pre-communist land owners as compensation. In June 2005, Orgachim sold its pigments production to Spanish inorganic pigments producer Nubiola for EUR 1.5 million. In October 2006, the company established a distribution subsidiary in Georgia. In 2009, Orgachim closed three production units - in Serbia, Ukraine and Italy. The same year Romanian Policolor moved all of its production of paints and varnishes to the plant in Ruse.