07.01.14
15 Jotun AS
Sandefjord, Norway
www.jotun.com
PUBLIC COMPANY
YEAR ESTABLISHED: 1926
REVENUE: $1.965 billion s (2012: $1.953 billion)
MARKETS SERVED
• Decorative paints • Marine and protective coatings
• Industrial coatings • Powder coatings
KEY EXECUTIVES
Morton Fon, president and CEO; Bård K. Tonning, decorative paints; Esben Hersve, performance coatings; Ram Ramnath, powder; Geir Bøe; Bjorn Wallentin, protective.
Jotun recorded sales of $1.965 billion for 2013. Jotun Group is divided into seven regions responsible for the sale of Decorative Paints and Performance Coatings (Marine, Protective and Powder Coatings). The company has 36 production facilities in 21 countries, 70 companies in 44 countries and is represented in more than 90 countries around the world. Marine coatings comprised 27 percent of sales, Decorative paints 37 percent, Protective coatings 26 percent and Powder coatings 10 percent.
In 2013, Jotun experienced continued strong growth in the Protective segment, especially in the Offshore, Hydrocarbon Processing Industry and Infrastructure concepts. The company recorded particularly good growth in China, Turkey, Russia and Indonesia. While other markets such as in India and the Americas region did not perform as well, Jotun achieved an overall record bottom-line growth in the Protective segment.
Jotun experienced a contraction in its marine coatings business in 2013. While the segment remains profitable, persistent tonnage over-capacity issues in primary shipping segments have resulted in a sharp decline in newbuilding deliveries. These market forces had a negative impact on sales, especially in China and Korea. However, a modest growth in global trade over the past two years has increased the demand for sea-borne transportation, and the newbuilding market seems to be on a path to recovery.
Jotun performed moderately well in the Powder Coatings segment in 2013, led by strong growth in Turkey, Malaysia, Indonesia and UAE. Growth in China, which represents the world’s leading market for powder coatings, was slowed by intense competitive pressure from low-cost producers and the need to customize products to manage the lack of uniform standards found in China’s powder coatings market.
Sandefjord, Norway
www.jotun.com
PUBLIC COMPANY
YEAR ESTABLISHED: 1926
REVENUE: $1.965 billion s (2012: $1.953 billion)
MARKETS SERVED
• Decorative paints • Marine and protective coatings
• Industrial coatings • Powder coatings
KEY EXECUTIVES
Morton Fon, president and CEO; Bård K. Tonning, decorative paints; Esben Hersve, performance coatings; Ram Ramnath, powder; Geir Bøe; Bjorn Wallentin, protective.
Jotun recorded sales of $1.965 billion for 2013. Jotun Group is divided into seven regions responsible for the sale of Decorative Paints and Performance Coatings (Marine, Protective and Powder Coatings). The company has 36 production facilities in 21 countries, 70 companies in 44 countries and is represented in more than 90 countries around the world. Marine coatings comprised 27 percent of sales, Decorative paints 37 percent, Protective coatings 26 percent and Powder coatings 10 percent.
In 2013, Jotun experienced continued strong growth in the Protective segment, especially in the Offshore, Hydrocarbon Processing Industry and Infrastructure concepts. The company recorded particularly good growth in China, Turkey, Russia and Indonesia. While other markets such as in India and the Americas region did not perform as well, Jotun achieved an overall record bottom-line growth in the Protective segment.
Jotun experienced a contraction in its marine coatings business in 2013. While the segment remains profitable, persistent tonnage over-capacity issues in primary shipping segments have resulted in a sharp decline in newbuilding deliveries. These market forces had a negative impact on sales, especially in China and Korea. However, a modest growth in global trade over the past two years has increased the demand for sea-borne transportation, and the newbuilding market seems to be on a path to recovery.
Jotun performed moderately well in the Powder Coatings segment in 2013, led by strong growth in Turkey, Malaysia, Indonesia and UAE. Growth in China, which represents the world’s leading market for powder coatings, was slowed by intense competitive pressure from low-cost producers and the need to customize products to manage the lack of uniform standards found in China’s powder coatings market.