PUBLIC COMPANY; YEAR ESTABLISHED: 1926
REVENUE: $2.028 billion s (2015: $1.87 billion)
Decorative paints; Marine coatings; Protective coatings; Powder coatings
Morton Fon, president and CEO; Bård K. Tonning, decorative paints; Esben Hersve, performance coatings; Ram Ramnath, powder; Geir Bøe; Bjorn Wallentin, protective.
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 40 production facilities in 24 countries, 64 companies in 45 countries and is represented by more than 100 countries around the world. The company has 9,789 employees. Decorative coatings comprised 41 percent of sales, marine coatings 25 percent, protective coatings 24 percent and powder coatings 10 percent.
In 2017, Jotun invested in new laboratories (in Turkey, the Czech Republic and the U.K.), the ongoing construction of factories and celebrated the completion of new factories in Malaysia, Myanmar, the Philippines and Russia. In Norway, construction is underway for the company’s new head office and R&D center. The company also continues to allocate resources towards IT tools and systems to modernize the company and to build the competence of its employees.
Significant and continuous raw material cost increases throughout 2017 and early 2018 has led to a price increase in all Jotun Powder Coatings products. The increase will be up to 20 percent, depending on the specific compositions of the products. Jotun cited, the significant increases last year in titanium, polyester and epoxies, and the sharp increase in epoxies again and pigments during this first quarter of 2018 as reasons for the increase.
Jotun Australia recently launched yachting products to the Australian Yacht and Superyacht industry. Jotun has been a market leading antifouling supplier to the Australian yacht and commercial markets.
With the introduction of this complete range of purpose built yachting products now in place, Jotun Australia’s Marine team can now offer a complete, single source solution for the rapidly growing Australian yacht market as well as for visiting yachts from Europe who are now often heading to South East Asia and Asia Pacific.