Jotun has announced plans for a new factory in South Korea, marking its largest single foreign investment ever, and is doubling production. The new factory near Pusan is not the company’s largest, but represents its largest investment in a factory at $37 million.
Construction is scheduled to start during the summer and will be completed in January 2009. The current factory primarily produces marine and protective coatings, mostly for newbuildings. The new factory means that capacity can be more than doubled from 18 million liters to 40 million liters when the factory opens and operates two shifts.