The paints producer Policolor is planning to sell land it owns in the area Theodor Pallady of Bucharest to a real estate developer. A production facility for Policor, one of Romania’s largest paints and varnish producers, currently stands on the land. According to Policor CEO Marius Vacaroiu the factory is not in any imminent danger of closure as he expects that completing the transaction will take over three years. The 13.9 ha of land are to be be released in three stages, with the first transaction expected to be done by the end of the year and the final one to be made available to the buyer in 2017. Policolor representatives said a new plant will be built through an investment over €6m.
