European paint giant continues pivot to Asia
Norwegian paint conglomerate Jotun enhanced its presence in the Asian market with the opening its manufacturing facility in the Philippines this week in Batangas Province, 78km south of Manila.
Situated in the industrial area of Sto. Tomas, the seven-hectare plant and main office will house more than 70 employees and will manufacture its own paint products.
“This is a momentous occasion for Jotun. This is the start of our major presence in the country and will strengthen our already robust trade and political relationships with Filipinos. We also aim to help the region of Batangas by offering employment to the locals,” said Stamatis Solomakos, the general manager of Jotun Philippines.
According to Solomakos, Jotun has investments of more than PHP1bn ($19.5m) including infrastructure, job generation and land acquisition.
Odd Gleditsch D.Y., chairman of the board of Jotun said: “It’s high time for Jotun to open its own factory since it has been operating here for more than 30 years.
“The Philippines market is important for us because we see good growth prospects in the future especially with the steady increase of investments in business areas where Jotun is relevant such as infrastructure and energy,” he added.
The plant is specifically located in the Light Industry and Science Park III, an industrial and business estate and was inaugurated by Odd Gleditsch D.Y., the governor of Batangas, and charge d’affairs of the Norwegian Embassy.
Jotun today has established 40 production facilities across the world, and operates in more than 100 countries in seven continents including the Middle East and is ranked eight amongst the leading paint companies in the world.
Jotun Paints has been operating in the Gulf region since 1974, and has cutting edge manufacturing facilities in Abu Dhabi, Dubai, Saudi Arabia, Oman and Egypt.