08.02.21
Sandefjord, Norway
www.jotun.com
PUBLIC COMPANY; YEAR ESTABLISHED: 1926
REVENUE: $2.375 billion s (2019: $1.83 billion)
MARKETS SERVED
Decorative paints; Marine coatings; Protective coatings; Powder coatings
KEY EXECUTIVES:
Morton Fon, president and CEO; Vidar Nysaether, CFO; Baard Kristian Tonning,
GEVP Decorative.
Jotun Group is divided into seven regions: Scandinavia, Western Europe, Eastern Europe and Central Asia, Middle East, India and Africa, North-East Asia, South East Asia and Pacific and the Americas – responsible for the sale of Decorative Paints and Performance Coatings (Marine, Protective and Powder Coatings). The company has 38 production facilities in 23 countries, 67 companies in 47 countries and is represented by more than 100 countries around the world. The company has 9,855 employees. Decorative coatings comprised 40% of sales, protective 26% of sales, marine coatings 26% and powder coatings 8%.
According to its latest financial report, Jotun’s strong profitability in 2020 was supported in part by favorable raw material prices and currency effects. However, Jotun’s success in gaining market share in many countries and segments, even in regions severely impacted by the coronavirus pandemic, owes more to the strength of Jotun’s corporate structure, the flexibility of its strategy and decades of experience managing global challenges.
In response to increasing costs of critical raw materials, including epoxies, copper, zinc, polyester, emulsions, and titanium dioxide, Jotun finds it necessary to raise prices.
Morten Fon, Jotun’s president and CEO, said price increases will apply to all relevant decorative paints, marine, protective and powder coatings products.
“In anticipation of rising costs, the company worked closely with key suppliers over the past year to manage the situation,” he said. “However, the rapidly increasing cost of raw materials left the company with no choice but to adjust prices. While we will continue to work diligently to avoid placing any additional price pressure on our customers, the cost of our products and solutions reflect the market reality,” he says. “However, we remain confident that our service offering will help our customers offset higher costs with innovative, long-lasting products and solutions that help them gain a competitive business advantage.”
www.jotun.com
PUBLIC COMPANY; YEAR ESTABLISHED: 1926
REVENUE: $2.375 billion s (2019: $1.83 billion)
MARKETS SERVED
Decorative paints; Marine coatings; Protective coatings; Powder coatings
KEY EXECUTIVES:
Morton Fon, president and CEO; Vidar Nysaether, CFO; Baard Kristian Tonning,
GEVP Decorative.
Jotun Group is divided into seven regions: Scandinavia, Western Europe, Eastern Europe and Central Asia, Middle East, India and Africa, North-East Asia, South East Asia and Pacific and the Americas – responsible for the sale of Decorative Paints and Performance Coatings (Marine, Protective and Powder Coatings). The company has 38 production facilities in 23 countries, 67 companies in 47 countries and is represented by more than 100 countries around the world. The company has 9,855 employees. Decorative coatings comprised 40% of sales, protective 26% of sales, marine coatings 26% and powder coatings 8%.
According to its latest financial report, Jotun’s strong profitability in 2020 was supported in part by favorable raw material prices and currency effects. However, Jotun’s success in gaining market share in many countries and segments, even in regions severely impacted by the coronavirus pandemic, owes more to the strength of Jotun’s corporate structure, the flexibility of its strategy and decades of experience managing global challenges.
In response to increasing costs of critical raw materials, including epoxies, copper, zinc, polyester, emulsions, and titanium dioxide, Jotun finds it necessary to raise prices.
Morten Fon, Jotun’s president and CEO, said price increases will apply to all relevant decorative paints, marine, protective and powder coatings products.
“In anticipation of rising costs, the company worked closely with key suppliers over the past year to manage the situation,” he said. “However, the rapidly increasing cost of raw materials left the company with no choice but to adjust prices. While we will continue to work diligently to avoid placing any additional price pressure on our customers, the cost of our products and solutions reflect the market reality,” he says. “However, we remain confident that our service offering will help our customers offset higher costs with innovative, long-lasting products and solutions that help them gain a competitive business advantage.”