Ukraine’s largest producer of phosphate fertilizers and titanium dioxide (100% state-owned) intends to produce 250 mt of paint and varnish products in July. In 1Q05 the company produced 517.7 mt of paint and varnish. Concorde Capital: The paint and varnish segment posted 12% growth in 2004, due to increasing internal demand. Over 100 Ukrainian companies produce in this segment, but 75% of the total output belongs to the ten largest producers.