Paint Factory News

The Jotun group generated sales of NOK 4,260 million in the first eight months of 2004, up NOK 496 million on the same period last year. The group recorded profit on ordinary activities before taxation of NOK 468 million, against NOK 379 million in 2003. "We're very pleased with our results so far this year, in terms of both sales and earnings," says CEO Knut Almestrand, adding that good progress was made in most business areas, the exception being marine coatings, which is continuing to battle with weak earnings. Each year Jotun invests substantial amounts in existing and new markets and in the development of new products. A further NOK 150 million was invested in fixed assets during the first eight months of this year.

King Harald cut the ribbon at the opening of the factory together with chair of the Board Odd Gleditsch dy and general manager of Jotun Vietnam Martin Chew. King Harald and Queen Sonja played a central role in the opening of Jotun's expanded production facility in Vietnam on Friday November 5th. King Harald cut the ribbon at the opening of the factory and Queen Sonja pressed the button initiating production. The new facility thereby received a regal start and the first tin of paint was aptly labelled Majestic, Jotun's most popular indoor paints in the East.