What Cinkarna Celje does

Cinkarna Celje d.d. is a Slovenian publicly listed chemical manufacturer founded in 1873 and headquartered in Celje, operating with approximately 800 employees and generating EUR 198.8 million of FY2025 sales revenue (net profit EUR 19.5M; EBITDA EUR 36.1M, 18.2% margin). Its core business is the production of titanium dioxide (TiO2) pigment via the sulphate process at a 65,000 tonnes-per-year capacity (expanded in 2016), which alone represents about 83% of the production-sales program and serves paints, coatings, plastics, paper, pharmaceutical, and construction end-markets. Vertically integrated sulphuric acid manufacturing feeds the TiO2 line, and a portfolio of specialty products — TMP-free TiO2 grades, ultrafine/photocatalytic TiO2, Ekolak powder coatings (including Qualicoat Class 1.5 facade formulations), color and white masterbatches, copper-based agricultural fungicides, and the CEGIPS synthetic gypsum by-product — rounds out the offering.

The company sells almost exclusively B2B through direct enterprise sales relationships with industrial manufacturers, exporting over 90% of output to markets across the European Union, the Americas, and the Middle East. Pricing is quote-based and contract-driven, with FY2025 experiencing successive TiO2 price reductions that management reports have stabilized into Q1 2026. Operating geographies are anchored by the Celje headquarters and the Mozirje site (PE Kemija Mozirje), with foreign representation via a Polish office and wholly-owned quartz subsidiary Cinkarna – Kvarc d.o.o. Tuzla (established 2002). Sustainability and quality credentials (EcoVadis Gold top-5%, ISO 9001/14001/45001/50001, EMAS at Mozirje) are central to its positioning with EU industrial buyers. Recent strategic emphasis is on specialty and sustainable variants, circular-economy by-products, the 2026 RecovREE rare-earth recycling consortium, and digital industrial infrastructure such as the 2025 private 5G network, while the legacy metallurgy business unit was closed in 2023.

Name

Cinkarna Celje

Legal name

Cinkarna, kemična industrija Celje, d. d.

Website

https://cinkarna.si

Company type

Public

Founded year

1873

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Titanium Dioxide Pigments

NAICS

Synthetic Dye and Pigment Manufacturing (32513), Paint and Coating Manufacturing (32551)

SIC

Industrial Inorganic Chemicals (2810), Paints, Varnishes, Lacquers, Enamels & Allied Prods (2851)

akta.pro primary industry

Pigments & Dyes (IMAEAHAJ)

Keywords

• Titanium dioxide pigments
• Powder coatings
• Plastic masterbatches
• Chemical manufacturing
• Plant protection products

Headquarters

HQ city

Celje

HQ country

Slovenia

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Titanium Dioxide Sales: Primary revenue stream from production and sale of titanium dioxide pigment (approximately 83% of production-sales program), serving paints, coatings, plastics, paper, and other industries globally.
2. Specialty Chemical Products: Secondary revenue from powder coatings (Ekolak), masterbatches for plastics, plant protection products, and chemical process equipment.
3. Sulphuric Acid: Production and sale of sulphuric acid as part of the integrated chemical manufacturing process.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Cinkarna Celje manufactures and sells titanium dioxide (TiO2) pigments as its primary product using the sulphate process at 65,000 tonnes/year capacity, serving paints, coatings, plastics, paper, and pharmaceutical industries. The portfolio is extended by Ekolak powder coatings for industrial and architectural use, color and white masterbatches for plastics, sulfuric acid (produced in-house via contact/double absorption), copper-based plant protection products for agriculture, and CEGIPS synthetic gypsum sold to the cement industry as a TiO2 byproduct.

Product overview

Cinkarna Celje operates as a chemical manufacturing company with an integrated product portfolio centered on titanium dioxide (TiO2) production as its core activity. The TiO2 operation is supported by in-house sulfuric acid production using the sulfate process, with masterbatches utilizing the company's own TiO2 pigments. The product portfolio includes: (1) standard and ultrafine titanium dioxide pigments for paints, coatings, plastics, and photocatalytic air purification; (2) Ekolak branded powder coatings for industrial and architectural applications; (3) color and white masterbatches for the plastics industry; and (4) agricultural protection products including copper-based fungicides. A notable sustainability feature is the CEGIPS gypsum byproduct from TiO2 production sold to the cement industry, exemplifying industrial symbiosis.

Differentiator

Problem solved

Functional benefit

Products and services

• Titanium Dioxide (TiO2) Pigment High-quality rutile-grade titanium dioxide pigment produced via the sulphate process at 65,000 t/year capacity, serving as the key white pigment for paints, coatings, plastics, paper, cosmetics, and pharmaceuticals. Available in standard and TMP-free grades (RC 813, RC 823, RC 833) for sustainable coating applications.
• Ultrafine Titanium Dioxide Nano/ultrafine TiO2 particles with photocatalytic properties that enable air purification, antibacterial textiles, and antiviral masks, addressing environmental purification and hygiene requirements for specialty applications.
• Ekolak Powder Coatings Powder coating product line including low-temperature curing formulations (130-160°C) for energy savings on temperature-sensitive substrates, and Qualicoat Class 1.5 certified facade grades (PEQ15) for architectural outdoor applications with superior weather and UV resistance.
• Masterbatches Color and white masterbatches for improving color, UV resistance, and material properties of plastic products, produced at the Mozirje site using in-house TiO2 pigment.
• Sulfuric Acid Sulfuric acid produced using the contact process and double absorption process, serving as a key input for titanium dioxide production and sold externally as part of the integrated chemical manufacturing portfolio.
• Agricultural Protection Products Copper-based fungicides (modri baker) and other plant protection products serving the agricultural sector for crop protection.
• CEGIPS (Titanium Gypsum)

Quantifiable outcome

• Reduced carbon footprint in 2025 compared to baseline year
• +2 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• RecovREE Project ConsortiumcoreStrategic or Co-development Partner · 1 April 2026Cinkarna Celje is a partner in the RecovREE (Development of Innovative Waste-to-Value Technologies for Sustainable Rare Earth Recycling and Multi-Value Magnet Recycling) project. The project aims to develop innovative technologies for recovery, processing and reuse of rare earth elements from industrial waste streams. Cinkarna contributes by extracting rare earth elements from intermediates and waste streams containing these materials. The EUR 8.07 million project runs from April 2026 to May 2029 with nearly EUR 5 million in EU co-financing.
• Community Advisory Council (Družbeni sosvet)minorOthers · 1 January 2025Cinkarna established a Community Advisory Council as a structured platform for strengthening dialogue with the local community. Includes representatives from City Municipality of Celje and municipalities of Štore and Šentjur. Promotes coexistence between industry and local communities and mutual understanding.
• SIQ (Slovenian Institute of Quality and Metrology)coreImplementation/ SI/ Consulting Partner · 1 January 2007Long-standing certification partnership since 2007 for four international management system standards: ISO 9001, ISO 14001, ISO 45001, and ISO 50001. Also provides EMAS Regulation certification at the Mozirje site. Continuous cooperation in management system certification demonstrates high level of professional expertise and responsible governance.
• Antwerp Declaration/Chemistry IndustryminorStrategic or Co-development PartnerCinkarna participates in the broader European industrial coalition representing over 1,300 companies, associations and trade unions. President Aleš Skok actively participates in European Industry Summit discussions on competitiveness, energy costs, and fair trade.

Scale indicators10 records

Recent moves12 records

Expansion highlights5 records

Direct peers

• Tronox Holdings: Global TiO2 producer with vertically integrated mineral sands feedstock. Directly competes with Cinkarna in rutile TiO2 for coatings and plastics, with similar export-driven B2B industrial sales motion.
• Chemours: Major TiO2 producer (Ti-Pure brand) primarily using the chloride process. Comparable in serving global paints/coatings customers, but represents the higher-end process technology benchmark against which Cinkarna's sulphate-route economics are measured.
• Tiger Coatings: Austrian-headquartered specialist in powder coatings. Directly competes with Cinkarna's Ekolak powder coatings line in industrial and architectural applications, particularly in Central and Eastern European markets.
• Kronos Worldwide: One of the world's largest TiO2 pigment producers using the sulphate process, serving coatings, plastics, and paper markets globally. Highly comparable to Cinkarna in core product (rutile-grade TiO2) and end-customer base, though at materially larger scale.
• Venator Materials: Specialty TiO2 producer focused on coatings, plastics, and specialty applications. Comparable to Cinkarna in product portfolio and customer overlap, particularly in European industrial markets.

Broad incumbents

• PPG Industries: Global coatings manufacturer and major TiO2 consumer. Comparable through Cinkarna's coatings-related business and as a customer in the same TiO2 value chain, though PPG operates downstream of pigment manufacturing.
• INEOS Pigments: INEOS's TiO2 business operates a large sulphate-process TiO2 plant in Europe. Comparable in product and process route; broader INEOS conglomerate provides financial backing that Cinkarna lacks.
• AkzoNobel: Global paints and coatings giant and one of the largest end-customers for TiO2 pigment. Comparable through Cinkarna's Ekolak powder coatings business and shared coatings-industry value chain, though AkzoNobel is downstream rather than upstream of TiO2.

Regional players

• Grupa Azoty: Poland's largest chemical company producing fertilizers, plastics, and specialty chemicals. Comparable as a Central European diversified chemical producer serving agriculture and industrial markets, with overlapping regional customer base.
• Precheza: Czech-based TiO2 pigment producer using the sulphate process. Regional peer with similar product offering, comparable EU regulatory exposure, and overlapping Central European customer base — closest mid-sized regional analogue to Cinkarna.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/cinkarnacelje

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cinkarna Celje