Jotun Group, Med Investment Holding Sign Algerian JV

Jotun Group and Med Investment Holding Spa concluded and executed a partnership agreement for producing Jotun paint and coatings in Algeria through a joint venture with Technover P.

The joint venture (Technover P) will produce Jotun decorative paints and protective coat-ings to international standards in a newly built and well-equipped factory in the district of Tizi-Ouzou, east of Algiers. The factory has been designed by Netzsch with a capacity for producing locally $120 million of the standard of quality of paint and coating that are presently imported.

This partnership is the first foreign direct investment (FDI) and production establishment in Algeria from one of the world’s leading global suppliers of coatings. Jotun aims to meet the continuing growth in construction as well as the industrial, oil & gas sectors in Algeria.

“This investment shows Jotun’s long-term commitment to the Algerian market,” said Rich-ard Chapman, Jotun’s regional director for MEIA emerging markets. “We can now bring our clients in Algeria the highest quality, internationally approved decorative paints and protective coatings. This is in line with Jotun Group’s strategy and values and fits well with Med Investment’s long industrial experience in Algeria.”

“This production investment is in line with our continuous strategy and focus of develop-ing competitive and quality-focused local production,” added Lies Kerrar, GM of Med In-vestment Holding. “We have successfully done that in the pharmaceutical sector by in-creasing significantly locally produced medicine market share. With Jotun’s high quality and technically performing products, we expect that our partnership will succeed in in-creasing the market share of locally produced quality and performant paint and coating.”