In India to announce this development, Odd Gleditsch, chairman, Jotun Group said India is a key market for Jotun and the group will soon look at additional investments in this high potential market that is growing in excess of 12% year on year.
Jotun has been present in India through franchises and has been actively monitoring the sector and strengthening its on ground presence over the last two years.
"We have closely assessed the Indian paint sector over the last two years and are now set with a plant of our own to make our presence felt," Claes Jansson, managing director, Jotun Paints India, commented. "We look to bringing our global expertise and best practices along with world class products to the India consumer. While we will drive our dominance in industrial and marine coatings, along with the decorative segment, we will look at capturing a market share of eight percent by the end of 2010."
"Sighting the thriving potential lying within the Indian paint sector, Jotun Group ventured into India, which as we foresee, is the next big market in Asia Pacific," added Gleditsch. "Factors including the economic boom, the surge in the construction and real estate, and a very low per capita consumption will aid this growth.
"Aligned to its international strategies, Jotun will retail its paints and products only through exclusive Jotun outlets ensuring a better access to cost-efficient quality paint products to the consumer," Gleditsch continued. "Jotun plans to interweave and integrate its expertise, values of loyalty, care, respect and boldness into the Indian paint market."
Highlighting Jotun Group's promise to give back to the community, the company has constructed a zero-emission and environment friendly plant. The key features of this manufacturing unit include a well-developed recycling process; wherein the waste emitted by the production processes is purified internally within the plant and the recycled water is used in the plant itself.
The plant also proposes to generate employment for 250 managers, skilled and semi-skilled workers in and around the area.