YEAR ESTABLISHED: 1926
COATINGS REVENUES: $2.050 billion
TOTAL REVENUES: $2.050 billion
Jotun Powder Coatings
Morton Fon, president and CEO; Bard Tonning, group executive VP, Jotun Dekorativ; Erik Aaberg, group executive VP, Jotun Paints; Esben Hersve, group executive VP, Jotun Coatings; Martin Chew, group executive VP, Jotun Powder Coatings.
Jotun’s coatings revenues in 2009 totalled $2.050 billion. During the year, Jotun’s board of directors approved investment in a new factory in the U.S. because, the company said, the U.S. is an important marine market and also becoming increasingly important for the protective coatings segment. Jotun said its existing factory in Belle Chasse, LA, requires significant upgrading so for business reasons as well as operational reasons it makes sense to build a new factory.
Jotun Saudia inaugurated a new state of the art paint factory in Yanbu. The company invested roughly US$27 million in the highly-automated factory that will exclusively produce waterborne paints. With the inauguration of the new factory Jotun’s installed production capacity in the Saudi Arabia is 110 million liters of paint, making it one of the largest in the Middle East.
Also during the year, Palmali Shipping Group signed a large contract for 10x7.000 deadweight tonnage newbuilding chemical vessels with Besiktas Shipyard. Jotun Turkey won the paint contract and is sole supplier for the entire project.
Jotun also won a major power plant coatings project in Indonesia. The 10,000 megawatt project will be completed during 2009-2014 for which Jotun will supply more than five billion liters of paint, to protect ten electric power facilities. Jotun Indonesia has secured important power plant projects in recent years such as Muara Karang, Paiton and Rembang.
In the Middle East, with aims to address the increasing demand for environmentally safe paint products in the region, Jotun introduced the Jotashield SuperDurable, a low VOC coating based on a special hybrid silicone binder with twice the life span of traditional coatings, the company said.