The CIN Group reorganized the organizational and financial structure of its operation in Spain, within the framework of its strategic plan for the Iberian market.
Within this restructuring the company name was changed from Barnices Valentine S.A.U. to CIN Valentine S.A.U..
At the financial level, the aim is to provide the company with the necessary financial means to support its expansion, strengthening its economic autonomy to 40% of its assets, thus raising its global equity to 25 million euros. “With this restructuring we seek to clearly and formally reinforce our continued commitment to the paint market in Spain, thereby positioning CIN Valentine as one of the most solid and active operators neste Mercado”, Ângelo César Machado, Director.
The entry of CIN into the Spanish market took place in 1988, with the opening of a commercial branch in Pontevedra, Pinturas CIN Galícia.
In 1994, CIN’s internationalization strategy took on a new dimension with the acquisition of 47% of the capital of Valentine, a company with headquarters in Barcelona targeting the decorative paints segment.
This operation gave the group the leadership of the Iberian market and, since 1995, it has continuously strengthened its positioning. In 1996, CIN reinforced its holdings in Barnices Valentine to around 60%, and achieve total control of that company in 1999.