Jotun recorded sales of $1.953 billion for 2012. The company operates in four business segments. Marine Coatings comprised 32 percent of sales, Decorative Paints 35 percent, Protective Coatings 23 percent and Powder Coatings 10 percent. The company added approximately 700 new employees worldwide to support future growth.
Decorative Paints achieved record growth in the Middle East and South East Asia. Jotun acquired land for a new factory in Oman and is expanding warehouse and logistic capacity in Saudi Arabia and Egypt. The company reported the successful Scandinavian launch of LADY Wonderwall. For Marine Coatings, growth slowed due to declines in the newbuilding market. Jotun strengthened dry-dock and sea-stock concepts to generate growth in maintenance markets and secured a number of contracts for Hull Performance Solutions (HPS) concept. Jotun launched an expanded range of premium sylil acrelate anti-foulings. Protective Coatings recorded strong results in Korea, Europe, Singapore and the Middle East and expanded into new market segments (renewables, mining). The company launched Barrier Plus (corrosion protection of steel substrates) and Penguard Pro, a primer for submerged surfaces. The company broke ground on a new factory in Russia and continues plans to build a factory in Brazil. Powder Coatings opened a new state-of-the-art powder factory and R&D center in China and secured a contract for Queensland-Curtis LNG project in Australia using new three layer FBE technology (J-Trac). Jotun also launched its ‘Reveal’ range of powder coatings.
YEAR ESTABLISHED: 1926
REVENUE: $1.953 billion s (2011: 1.902 billion)
• Decorative paints
• Marine and protective coatings
• Industrial coatings
• Powder coatings
Morton Fon, president and CEO; Bård K. Tonning, decorative paints; Esben Hersve, performance coatings; Ram Ramnath, powder; Geir Bøe, marine; Bjorn Wallentin, protective.