Industry News

Jotun Paints to Begin Construction of Latest Plant for Paint & Powder Coatings

Published on 2011-09-14. Author : SpecialChem

OOO Jotun Paints has acquired 9 hectares of land in the Fedorovsky Industrial Park as the first step in constructing a factory for production of paint and powder coatings. When complete, the factory will have a capacity to produce up to 15 Million liters of paint and 3,000 tons of powder coatings per year. Jotun's total investment in this project will be approximately USD 50 million.

"The Jotun Board of Directors has approved construction of our first factory in Russia," said Svein Stolpestad, Jotun Group Vice President for Business Development and Strategy. "It is very important to have local production to support our sales growth and to be more responsive to our customers in Russia."

"We are pleased that Jotun chose the Fedorovsky Industrial Park to locate their new production facility," said Leningrad Oblast Vice Governor, Gregory Dvas. "We hope this decision may attract other investors who are looking for a production site where necessary utility networks are already being put in place."

The industrial park is being developed by the company "Fed-Immobelin," near the town of Fedorovsky in the Tosno District of Leningrad Region, with the investor being UFG Real Estate Group. The parties have agreed not to disclose the purchase price.

"Jotun is a worldwide leader for protective coatings," says Rodion Kim, Mayor of Fedorovsky Municipality. "This kind of investment will create new jobs and help Fedorovsky to achieve our town development plan."

About OOO Jotun Paints and Jotun A/S

OOO Jotun Paints is 100% owned by Norway-based Jotun A/S, one of the world's leading manufacturers of paints, powder and protective coatings. Jotun's operations cover development, production, marketing and sales of various paint systems and products to protect and decorate surfaces in the residential, shipping and industrial markets.The group is present in more than 80 countries and has 38 production facilities across all continents. Jotun's total sales reached NOK 13.45 billion in 2010 and the company now has more than 8,000 employees. The Jotun Group's head office is located in Sandefjord, Norway.

Source: OOO Jotun Paints

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