Fumes from a container of thinner left open overnight ignited when a worker started a compressor shortly before 7am this morning.
The fire spread to tyres, paper and rags in the factory, but there was no structural damage.
25 firefighters and five firefighting appliances from Carrum Downs, Patterson river and Frankston responded to the fire, which was extinguished in 10 minutes.
Two workers were able to get out of the factory before CFA arrived.
WorkSafe has been notified of the incident.