TAGS: Marine and Protective Coatings Industrial Coatings
Jotun has renewed the long-standing joint venture agreement with COSCO SHIPPING International Hong Kong Ltd. to provide high-quality products to the shipping industry in China.
Further Adapt Innovative Coatings Technology
The signing of the joint venture took place at a special ceremony held at COSCO SHIPPING’s headquarters in Shanghai.
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Jotun COSCO Marine Coatings has established a clear market leading position in the provision of high-quality products to the shipping industry in China. The company marries the innovative, high performance coatings technology of Jotun with the infrastructure, industry expertise and valued reputation of COSCO SHIPPING in this key domestic market,” stated Morten Fon, CEO, Jotun.
The JV was first signed in 2005 to secure the future of Jotun COSCO Marine Coatings (JCMC), a 50-50 owned entity that holds a clear market leading position as China’s marine coating supplier.
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We are happy to continue this solid, productive and valued partnership into the future. Jotun is a quality supplier and a preferred partner to the COSCO SHIPPING fleet. It is a venture that delivers mutual value, and we believe it can go from strength to strength in the years to come,” commented COSCO SHIPPING International Executive Director and JCMC Chairman, Mr Liu Gang.
A high profile gathering of business and political leaders witnessed the signing, including Mr. Xu Lirong, Chairman of COSCO SHIPPING Group, Mr. Torbjorn Roe Isaksen, the Norwegian Minister of Trade, Industry and Fisheries, the top management teams from COSCO SHIPPING Group and Jotun, and further attendees from the Norwegian government and embassy.
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We are proud of what we have achieved together so far and look forward to a continuation of the excellent progress, partnership and market development," added Fon.
Source: Jotun