“It’s gone entirely according to plan, and we anticipate significant growth in the coming years,” stated Nina Reinert, chair of the board.
This year, the paint and coating factory located on Staalvej in Kolding achieved a financial milestone with an annual turnover exceeding DKK 100 million for the first time. The factory is owned by the Reinert family, who divested themselves of the majority of their business ventures five years ago, retaining only their passion, commitment, capital and a tax ID number in the Danish Central Business Register. Their objective was to invest all that into creating the company of their dreams.
“We aimed to establish a company with the best people in the industry and the finest technology. We wanted to build a company where the customers’ demand for coatings was at the centre of all our activities. Innovation, growth and flexible service would be our core principles, our DNA. That is something we have invested heavily in,” said Nina Reinert, chair of the company’s board. She is very pleased to see the returns from that strategy now reflected in the company’s turnover.
“We are delighted that we have succeeded. It validates our strategy and we expect to grow significantly more in the coming years,” she added.
A strategy based on investments and growth
In 2018, Nowocoat opened the 10,000 m² factory on Stålvej in Kolding, featuring state-of-the-art production and development facilities. While there is still a considerable way to go before the factory reaches its maximum production capacity, the company sees good growth opportunities in the functional coating sector, according to CEO Ole E. Jensen:
“We are constantly developing new products with a view to optimising our customers’ production and businesses. There is now much more focus on environmentally friendly solutions, which increases the demand for functional coatings. We have a unique opportunity to tailor our products to our customers’ needs and their production facilities and processes. For example, we have developed and supplied coatings that are easier to apply and dry more quickly. This can significantly impact our customers’ bottom line, making us a highly attractive partner in the market,” he explained.
In addition to the company’s production facilities and laboratory, its flexible and agile approach to the market is also founded on skilled employees:
“We have assembled a ‘national team’ for all roles in the field of paints and coatings, including the mixing department in the lab, accounting and sales. We started with a team of 10 employees and now number about 35. We continue to hire only the best in the industry. This provides us with a unique level of expertise and innovation capability in the sector,” said Ole E. Jensen:
“It’s not common to see a patent on paint, but we have already developed several patented products, such as Coolingpaint – a product for which we have just received a patent in the United States, expiring in 2037. This product reflects heat, thereby not only mitigating the global temperature increase but also reducing a building’s cooling requirements, which is, of course, an energy-intensive process. Coolingpaint has been formulated for wood, cladding and roofs, and there is no other coating like it on the market. We have also developed Denmark’s first environmentally approved algaecide,” he added.
Furthermore, Nowocoat’s production is both ISO-certified and environmentally certified, ensuring that customers can trust in receiving a consistent and eco-friendly solution each time.
Goal: A turnover of DKK 300 million by 2025
Achieving a turnover of DKK 100 million marks a milestone for the company, but both the CEO and board agree that significant growth should continue in the coming years.
“From an external perspective, Nowocoat’s rapid growth may appear rather steep, but it has been a controlled ascent. We have had a unique opportunity to build a modern factory with a capacity that aligns with our ambitions. We have the key personnel we need for the foreseeable future—even as we aim for the DKK 300 million target in the coming years,” stated Ole E. Jensen, who expects Nowocoat to reach that milestone by 2025.
In addition to its organic growth, in 2019 Nowocoat also acquired Lurrell Industries A/S, a company particularly known for its surface treatments for garden furniture and wooden kitchen utensils.
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